CHENNAI: Kothari Industrial Corporation Ltd. (KICL) has taken a significant step by signing a memorandum of understanding (MoU) with the Government of Assam.
Under the MoU, KICL will invest Rs 500 crore in mineral and ore extraction projects in Assam. The MoU was signed 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.
The Government of Assam has shown strong support for KICL’s investment, highlighting its confidence in the company’s ability to deliver large-scale projects.
This expansion into Assam is a milestone for KICL as it moves beyond Tamil Nadu. Under the leadership of chairman Rafiq Jinnah Ahmed, KICL aims to become a pan-India and global enterprise.
Ahmed, said, “This is just the beginning. We are actively working on expanding into multiple states across India. This MoU is a stepping stone to our larger global ambitions.”