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Mukand Sumi Special Steel Limited (MSSSL), a joint venture between the Bajaj Group and Sumitomo Corporation of Japan, is set to significantly expand its operations with a major investment in Karnataka. The company has announced plans for a new greenfield steel plant in Kanakapura, Koppal district, with a total investment of ₹2,345 crore. This strategic move is aimed at increasing the company's annual production capacity to 700,000 tons and catering to the rising demand for high-grade specialty steel.
The new facility, expected to be operational by early 2028, will primarily serve key sectors such as automotive, engineering, oil and gas, and energy. The project is designed with a strong focus on sustainability, with more than 95% of its energy sourced from renewables. MSSSL also has long-term plans to integrate hydrogen-ready infrastructure and carbon capture technologies, aligning with its commitment to achieving net-zero steel production by 2050. This expansion not only marks a significant milestone for Mukand Sumi but also reinforces India's position as a hub for advanced, sustainable steel manufacturing.
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