India’s Mukand Sumi Special Steel Limited (MSSSL), a joint venture of Bajaj Group and Japan’s Sumitomo Corporation, will construct an integrated special steel production facility entailing an investment of around $266.20 million in the southern state of Karnataka, a company statement said on Tuesday, September 2.
The greenfield project will expand MSSSL's annual production capacity to 700,000 mt, positioning it among India's leading special steel manufacturers. The new facility is expected to begin operations by early 2028, pending environmental clearances, the company said.
Since its establishment in 2018, MSSSL has maintained an annual production capacity of approximately 350,000 mt, primarily serving the automotive and engineering sectors with bars, wire rods and secondary steel products.
The proposed plant will incorporate advanced technologies including jumbo bloom casters, modern rolling mills, and comprehensive testing facilities. These capabilities will enable production of specialized steel grades for power-trains, railways and bearings applications, the company said.
The plant will operate under a zero liquid, solid, and gaseous discharge model, with over 95 percent of energy requirements sourced from renewable sources. MSSSL has committed to achieving net-zero steel manufacturing by 2050, with future phases incorporating hydrogen-ready infrastructure and carbon capture technologies, it said.