Bengaluru: Aaress Iron and Steel Ltd, a subsidiary of the Baldota Group, has agreed to set up a steel plant at an outlay of Rs 18,000 crore in Koppal district, the company said on Wednesday.
The company signed a Memorandum of Understanding with the Karnataka government during the Global Investors’ Meet here to establish, construct, operate an integral steel plant of 3.5 MTPA at Halavathi village in Koppal, company’s managing director Rahulkumar Baldota said in a statement.
”AISL has already acquired 1,036.09 acres of land and the remaining 933.01 acres acquisition is under process,” Baldota said.
He added that his company has secured environmental clearance and water drawl sanctions.
The project will provide about 10,000 direct and indirect jobs to the locals.