On June 7th Tata Steel announced a Rs 300bn (US$5.4bn) investment to build a 6Mt/y steel plant in the Haveri district, state of Karnataka SE India.

The announcement was made at the second global investors meeting organised by the government is hoping to exceed the Rs 39.20M ($706k) of investments made in 2010 – primarily in the iron and steel sector but little of this has yet materialised due to various reasons, including problems of land acquisition and more recently issues of availability of ore due to the suspension of operations at a number of mines due to unauthorised mining.

The Bharatiya Janata Party government which is in its last year of the current tenure is Rs 6bn ($108M) worth of investments this time around.

In addition to the Tata announcement, the Aditya Birla is proposing investments of Rs 70000M ($1262M), including a 4Mt/y cement plant.