Kothari Industrial Corporation Signs Rs. 500 Crore MoU With Assam For Mineral And Ore Projects

GUWAHATI: Kothari Industrial Corporation Ltd., a diversified conglomerate, has signed a Memorandum of Understanding with the Assam government to establish mineral and ore extraction projects with an investment of Rs 500 crore, a top official said.

The project will be developed in collaboration with the government and public sector undertakings, resulting in the creation of about 3,000 new jobs in the region. The company stated on Friday that the MoU was signed in the presence of Assam Chief Minister Himanta Biswa Sarma at the Advantage Assam 2.0 Investment and Infrastructure Summit, which was recently held in Guwahati.

"This is just the beginning. We are actively working on expanding into multiple states across India. My long-standing vision of transforming KICL into a multinational corporation is now becoming a reality," said KICL Chairman Rafiq Jinnah Ahmed. "This MoU with Assam is a stepping stone toward our larger global ambitions," he added.

Advantage Assam 2.0 was organized with the aim of driving the economic development of Assam. The state government has already announced that the conference is expected to generate an investment of Rs. 1.5 lakh crore.

Meanwhile, Arti Power signed a Memorandum of Understanding (MoU) worth Rs. 1,000 crore with the state government during Advantage Assam for investment in the state.

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