DH News Services cited Mr Murugesh Nirani minister of Large & Medium Industries as saying that Goa based company Tungabhadra Minerals Company will set up INR 25,000 crore steel plants in the district.

Mr Nirani said that in the first phase the company has agreed to invest INR 10,000 crore and would be providing jobs for nearly 50,000 people. He said that “A team of senior officials from the company were already searching for a suitable place in the district to set up this mega plant. He said that a technical team of the company would also be visiting the district shortly. Based on the report of this team, the place would be selected.”

Mr Nirani said Indian government has come forward to provide all the basic facilities and infrastructure for this company to set up the plant.

Mr Gautam Radia director of Tungabhadra Minerals Company said that they are searching for a place between Kulgeri Cross & Gaddankeri Cross and between Hunagund & Amminghad in Hunagund taluk to set up the steel plant. He said that “Bagalkot district is most suitable to set up a steel industry. If the government provided 4,000 acres to 6,000 acres of land needed for setting up the plant, than the steel unit would be set up within next 36 months.”