The Karnataka-based Baldota Group will invest Rs 54,000 crore to establish an integrated steel plant with a production capacity of 10.5 million tonne per annum in Koppal, Karnataka.

Named Baldota Steel and Power (BSPL), the new plant is expected to significantly enhance Karnataka’s steel production while generating substantial local employment opportunities.  The company will formalise this investment by signing a memorandum of agreement at the Global Investors’ Meet on 11 February, in the presence of Chief Minister Siddaramaiah.

Baldota Group has a strong presence in sectors such as mineral exploration, mining, industrial gases, pellet production, wind power, shipping, and waste treatment. The group also operates iron ore mines in Karnataka. 

The state’s flagship event, Invest Karnataka 2025, will be held from 12-14 February, 2025 featuring key investment announcements. The highlights include a 200-acre Startup Park near Hubballi Airport, which will accommodate about 400 startups, and a 1,200-acre solar cell manufacturing and agro-tech park in Tidagundi, Vijayapura district.