Arcelor Mittal Zuari Surya Vijayanagar Steels to start in north Karnataka

This could be the best for North Karnataka as huge amount of investors have been asked to pen shop here.

The State High-Level Clearance Committee (SHLCC) presided by Chief Minister B S Yeddyurappa on Tuesday cleared the investment in many areas. They are as Follows:

• GAIL will lay 746-kms of gas pipeline from Dhabol to Belgaum and Bangalore at a cost of Rs. 4,544 crore.
  • Zuari Fertilisers and Chemicals will set up a urea plant with a capacity of 11.55 million tonnes per annum in Belgaum at a cost of Rs. 4,565 crore.
  • Surya Vijayanagar Steels and Power Ltd will set up an integrated steel plant at a cost of Rs. 20,000 crore in Bagaklot.
  • Arcelor Mittal will invest Rs 50,000 crore to set up a six million-tonne mega steel plant in North Karnataka. The company was offered eight places in North Karnataka, of which two have been short-listed. The company has asked for 4,000 acres for the project. The plant is expected to generate employment for at least 20,000 people. The Rs 30,000 crore phase-I will also include a 750MW thermal power.
    

This is good news for Belgaumites as most of these industries will give employment to locals here and after these industries set shop here there will be overall development.