Mumbai, Sept. 1 -- Mukand Sumi Special Steel (MSSSL), a joint venture between India's Bajaj Group and Japan's Sumitomo Corporation, has announced a major expansion with the construction of a new integrated steelmaking facility in Kanakapura, Koppal, Karnataka.

The new greenfield plant will boost MSSSL's production capacity to 700,000 tonnes per annum, making it one of India's leading special steel manufacturers. The project, which is currently awaiting environmental clearances, involves a capital investment of INR 23.45 billion, or around EUR 234 million.

The expansion is driven by the increasing demand for high-quality special steel in India's industrial, energy, and automotive sectors, supported by government initiatives like Atmanirb...