KICL to invest ₹500 crore in Assam in mineral and ore extraction projects

Chennai-based Kothari Industrial Corporation Ltd (KICL) has signed a memorandum of understanding (MoU) with the Government of Assam to invest ₹500 crore in mineral and ore extraction projects in the State. The MoU was signed on Thursday at the Advantage Assam 2.0 Investment and Infrastructure Summit in Guwahati, attended by Assam Chief Minister Himanta Biswa Sarma.

Through the project KICL will create approximately 3,000 jobs directly. The project will be developed in collaboration with the Assam government and its public sector undertakings, says a release.

Rafiq Ahmed, Chairman, KICL, in the release said, this is just the beginning as the company is working on expanding into multiple states across India.