The JSW Bellary steel plant in Karnataka will soon be the largest in the world, Sajjan Jindal, chairman of JSW Group, said Wednesday, assuring the government of investing Rs one lakh crore in the state in the coming years.
Speaking at the inaugural Invest Karnataka 2022 – Global Investors Meet in Bengaluru Wednesday, he said the steel plant at Bellary was the largest in the country. “The plant will soon be the largest in the world,” he added.
The JSW Group, Jindal said, had invested Rs one lakh crore in Karnataka and had plans to invest an additional Rs one lakh crore in the coming years. The investment will be towards expanding JSW’s steel plant in the state, renewable energy projects, and a greenfield port.
He also urged the state government to consider auctions for mineral resources, as it had the potential to generate revenue for the state exchequer.
In another big-ticket announcement, Pratik Agarwal, managing director of Sterlite Power, said that a large chunk of the Rs 50,000 crore the company had planned to invest in the renewable energy sector will be in Karnataka.
In his address, he petitioned the government to adopt a public-private partnership model to install inter-state transmission lines.
Rajan Bharti Mittal, chairman of Bharti Enterprises, said that Rs 20,000 crore will be invested in the state by the company in the next five years.