JSW Group chairman Sajjan Jindal said on Wednesday that the group plans to invest Rs 1 lakh crore in Karnataka over the next five years.

He also asked the state government to consider mineral auctions at the opening of the state’s Global Investor Conference (GIM) Invest in Karnataka 2022.

Jindal said the group had invested more than Rs 1 lakh crore in Karnataka. “We plan to invest another Rs 1 lakh crore in Karnataka over the next five years”. The investment will be used to expand its steel mills, renewable energy and port infrastructure.

Jindal noted that the group’s Balali steel plant in Karnataka has grown to be the largest in India and will soon become the largest in the world.

He urged the state government to consider mineral auctions, saying the move would further encourage investment in manufacturing and support Karnataka’s growth trajectory.

Against this background, he praised the Odisha government as the “most aggressive” state to auction “mineral assets, mines”.