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The Karnataka government has approved specialty steel maker Mukand Ltd’s application for extension of time and additional land for its ₹2,892 crore investment in the State.
The State High Level Clearance Committee (SHLCC) which met under the leadership of Chief Minister Siddaramaiah approved Mukand’s proposal which has plans to expand its plant at Koppal district with a budget of ₹2,892 crore.
Recently, Mukand had signed a joint venture agreement with Sumitomo Corp of Japan to set up a rolling mill in Karnataka.
The company is planning to produce alloy steel long products and has plans to procure raw materials locally at Hospet. SHLCC also approved extension of time for investments to be made by Vasavadatta Cements’ ₹625 crore capacity expansions at Sedam in Gulbarga district.
According to the industry department officials, Vasavadatta is planning to expand its cement production capacity from 4.1 million tonnes per annum (mtpa) to 9 mtpa.
Similarly, SHLCC also approved India Cements application for extension of time for its new investment in a cement plant in Gulbarga. It is planning to set up a new plant with 2 mtpa capacity.
SHLCC also approved tourism infrastructure development projects to be taken under PPP.
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