Mukand Sumi to Invest ₹2,345 Crore in New Karnataka Steel Plant.

Mukand Sumi Special Steel Limited (MSSSL) has announced plans to construct a new greenfield integrated steel manufacturing facility in Kanakapura, Koppal, Karnataka, with a planned investment of ₹2,345 crore. The project is contingent on securing all necessary environmental clearances.

The new plant is designed to have an annual production capacity of 0.35 million tonnes and is expected to become operational by early 2028. Once completed, it will nearly double MSSSL’s total production capacity to 700,000 tonnes per year, solidifying its position as one of India's top special steel manufacturers.

A joint venture between India’s Bajaj Group and Japan’s Sumitomo Corporation, MSSSL has been in operation since 2018. It currently produces approximately 350,000 tonnes of special steel products annually, including bars, wire rods, and other products across more than 400 grades. Its primary customers are in the automobile and engineering sectors.