Karnataka Greenlights ₹138 Crore Steel Plant in Tumakuru

The Karnataka government has accorded in-principle approval for a new steel manufacturing plant to be established in the Sira Industrial Area of Tumakuru district. The project is expected to revamp the industrial spectrum of the region as it is backed by an investment of ₹138 crore by Krisoda India Private Limited.

The 2. 5-million-tonne plant will manufacture thermo-mechanically treated (TMT) bars, rods and allied products to meet rising demand from the construction sector. This is in line with the state’s initiative to woo investment & improve local manufacturing capacity to provide jobs and propel development.

In this regard, Sira Industrial Area, which is well connected with major markets and infrastructure is identified as a suitable location for this project. It will create jobs and promote direct and indirect employment opportunities, thereby improving local livelihoods.

Karnataka has been actively marketing its industrial policy, seeking investments in the manufacturing, steel and other sectors, and this latest development comes as a boost. This approval from the government is perceived as a move to bolster the state as an industrial centre in South India.

In a connected episode, four persons died in the Jindal Vijaynagar Steel Plant at Torangal in Bellary district, where a mishap happened a few days ago. The incident occurred at a chimney inside the premises of the plant, leading to raising doubts about the industrial safety standards. The authorities have launched an investigation to uncover the cause of the incident but have stressed the need for strict safety measures to prevent industrial accidents.

Regardless, the state also needs to remind itself of the need to balance growth with safety and sustainability, as Karnataka continues with its industrial expansion plans. The recent approval by the state government reflects its determination to enhance the manufacturing sector while also mitigating the obstacles presented by industrial safety.

This investment, along with other investments, will support both infrastructure and job creation for citizens in Karnataka as the industrial sector flourishes in the state.