Chennai, Feb 28: Kothari Industrial Corporation Ltd (KICL), a diversified conglomerate, has signed a Memorandum of Understanding (MoU) with the Assam government to establish mineral and ore extraction projects in the state. The initiative, valued at ₹500 crore, is expected to generate around 3,000 jobs, a senior company official announced.
The agreement was formalized at the recently held Advantage Assam 2.0 Investment and Infrastructure Summit in Guwahati, in the presence of Assam Chief Minister Himanta Biswa Sarma. The project will be executed in collaboration with the state government and public sector enterprises.
KICL Chairman Rafiq Jinnah Ahmed emphasized the company's strategic expansion, stating, "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."
He further noted that the partnership with Assam is a crucial step in the company’s broader global aspirations.
This development marks a significant investment in Assam’s mineral and ore extraction sector, aligning with the state’s industrial growth plans while bolstering employment opportunities.