Indian Economy News

JSW group to invest Rs. 1 trillion (US$ 12.08 billion) in Karnataka in five years, say Mr. Sajjan Jindal

  • IBEF
  • November 3, 2022

The JSW Group's chairman, industrialist Mr. Sajjan Jindal, announced on November 2, 2022 that his company plans to invest Rs. 1 trillion (US$ 12.08 billion) in all of its Karnataka-based businesses over the following five years.

In the Ballari-Hospete iron ore belt, JSW runs a steel plant in Vijayanagar, Karnataka. India's largest single-location integrated steel-making facility, the production unit in Vijayanagar has a current capacity of 12 million tonnes per annum (mtpa).

"Minerals like iron ore will not always be needed for the production of steel – hence it is imperative that these assets are monetised at the earliest. Mineral auctions will encourage investments in the manufacturing sector and support Karnataka’s growth trajectory”, said Mr. Jindal

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