Mumbai, Feb. 28 -- Chennai-based Kothari Industrial Corporation Ltd (KICL) has signed a memorandum of understanding (MoU) with the Assam government to invest Rs 5 billion in mineral and ore extraction projects within the state. The MoU was formalised on Thursday at the Advantage Assam 2.0 Investment and Infrastructure Summit in Guwahati, with Assam Chief Minister Himanta Biswa Sarma in attendance.
The project is expected to create around 3,000 direct jobs. KICL will collaborate with the Assam government and its public sector enterprises to develop the initiative, according to a statement.
Rafiq Ahmed, Chairman of KICL, mentioned that this project marks the beginning of the company's expansion plans, with further projects expected in multiple states across India.
Published by HT Digital Content Services with permission from Construction World.