India: Mukand Sumi to invest INR 2,345 crore in greenfield special steel plant in Karnataka

Mukand Sumi Special Steel Ltd (MSSSL), a joint venture between Sumitomo Corporation (49%) and Bajaj Group's Jamnalal Sons (51%), will invest INR 2,345 crore in a greenfield integrated steel plant at Kanakpura, Karnataka. The new facility will raise MSSSL's capacity to 7 lakh TPA, producing high-grade special steel for various sectors. Notably, the sustainability-first plant will be designed with zero discharge and 95% renewable energy use.