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Mukand Sumi Special Steel Limited, a joint venture between Japan's Sumitomo Corporation and Jamnalal Sons of the Bajaj Group, has announced plans to develop a greenfield project in Kanakpura, Karnataka. The facility will be created with an investment of INR 2,345 crore and will focus on producing high-grade special steel for use across automotives, railways, energy, oil and gas, and bearings. The project will adopt a zero-discharge model and draw the majority of its power requirements from renewable sources.
Mukand Sumi Special Steel Limited (MSSSL) confirmed earlier this week that it will set up a greenfield project in Kanakpura, Karnataka, with an investment of INR 2,345 crore. MSSSL operates as a joint venture between Japan's Sumitomo Corporation, which holds a 49 per cent stake, and Jamnalal Sons Private Limited of the Bajaj Group, which owns the remaining 51 per cent. Advertisement
The company stated that through this collaboration, its productive potential would expand to 700,000 tonnes per annum, a development that would firmly establish it among India's foremost special steel manufacturers. The new facility is planned to produce high-grade special steel catering to diverse industries including automotives, railways, energy, oil and gas, and bearings.
The company emphasised that the project will follow a zero liquid, solid, and gaseous discharge model, ensuring sustainable practices in line with global standards. It was highlighted that more than 95 per cent of the energy requirements for the plant would be sourced from renewables, significantly reducing its environmental footprint.
Vipul Mashruwala, President of Mukand Sumi Special Steel Limited, noted that the facility would enable the company to meet growing demand with greater efficiency, higher quality, and a stronger commitment to environmental responsibility. He added that this marked a step forward in achieving the company's vision of building a world-class, sustainable special steel enterprise.
With a significant investment, expansion of production capacity, and a strong emphasis on renewable energy, the project is expected to position the company more prominently within India's special steel sector. By focusing on high-grade steel for critical industries, MSSSL is aiming to meet rising demand while aligning with global sustainability benchmarks. This initiative underscores the long-term strategic vision shared by its joint venture partners.
Source - PTI
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