Baldota Group has announced its entry into the steel manufacturing sector with a massive investment of ₹54,000 crore to set up a greenfield steel plant in Karnataka. The project will have a planned production capacity of up to 10.5 million tonnes (MT) per year once fully operational.
The new facility will become Karnataka’s second-largest steel plant, generating substantial employment both directly and indirectly, according to Nagaraj N B, Vice President of the Group’s Integrated Steel Project. The group has already received environmental clearance from the Ministry of Environment, Forest and Climate Change (MoEF&CC) for the first phase of the project, which is expected to begin later this year with an initial 3.5 MT capacity. The remaining capacity will be developed in phases, with full-scale operations expected by 2030.
India’s national target is to raise total steel production capacity to 300 MT by 2030. Baldota Group’s project will contribute 10.5 MT, adding significant momentum to that goal. The upcoming plant will also include a provision for 295 MW of captive power, generated from waste gases and alternative fuels, reinforcing the group’s focus on efficient resource utilisation and environmentally conscious operations.
Responding to concerns from sections of the community over potential ecological effects, the company released the results of its Environmental Impact Assessment (EIA) study. Conducted during the design stage, the study outlines a number of sustainability measures, including pollution control and waste management systems, aimed at reducing the project’s environmental footprint.
With existing operations in renewable energy (wind and solar), shipping, mining, gases, and pellets, this foray into steel marks a significant expansion for the Karnataka-based group, positioning it as a key contributor to India’s core industrial growth in the coming years.
The Baldota Group is a diversified conglomerate with a strong presence in multiple industries, including mineral exploration, mining, industrial gases, pellet production, wind power, shipping, and waste treatment. With over 70 years of experience, the group is a key player in the mining sector, particularly in iron ore extraction, and operates several mines across Karnataka.
Known for its commitment to sustainability, the group has been awarded a five-star rating by the Centre for six consecutive years. In addition to its business ventures, the Baldota Group has made significant contributions to social welfare, having planted two million trees and supported 20 villages through its corporate social responsibility initiatives, which focus on education, healthcare, sanitation, and women’s empowerment.
