labels: Steel
Suzlon to set up Rs50,000 crore steel plant in Karnataka news
28 January 2009

Wind energy major Suzlon will invest nearly Rs50,000 crore to set up an integrated steel plant in Bijapur district of Karnataka.

A high-level committee of the state government chaired by chief minister B S Yeddyurappa today cleared the Suzlon project among 15 proposals, involving total investments of Rs75,541.25 crore.

The Suzlon project, which will come up in four phases, is expected to create 9,000 jobs, minister for major and medium industries Murugesh R Nirani said.

The project would help Suzlon manufacture steel for its own wind turbine requirements both domestic and overseas - according to Karnataka's commissioner for industrial development Raj Kumar Khatri.

"Instead of taking steel from other companies, they would like to make steel and then convert it into (wind) towers," he said.

The high-level state committee also cleared Hazira Steel Ltd's (Essar Steel Karnataka Ltd) proposed Rs17,760-crore integrated steel plant. The Essar plant has a potential to give employment to 9,675 persons.

Other proposals cleared by the state panel include a Rs1,602 crore IT/ITES special economic zone to be set up by Brooke Bond Real Estates Pvt Ltd (part of Hindustan Unilever), where they were holding land since 1982.

Brooke Bond has projected an employment potential of 2.88 lakh in this project.

Yeddyurappa said out of the 15 projects cleared, eight are in north Karnataka with envisaged investment of Rs72,025.25 crore. The projects together are expected to provide employment to 65,932 persons.

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Suzlon to set up Rs50,000 crore steel plant in Karnataka