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, with a strategic focus on rare earth and critical minerals.
The MoU was formalized during the ‘Advantage Assam 2.0 Investment and Infrastructure Summit’ held on February 25-26, 2025, in Guwahati, in the presence of Assam Chief Minister Himanta Biswa Sarma.
The investment is expected to generate approximately 3,000 direct jobs, contributing to Assam’s industrial growth. The project will be developed in collaboration with the Assam government and its public sector undertakings, KICL stated in a press release.
Rafiq Ahmed, Chairman of KICL, emphasized that this investment marks the beginning of the company’s expansion strategy across multiple states in India.
KICL operates across diverse sectors, including fertilizers, healthcare, food, mining, and minerals, reinforcing its commitment to India’s industrial and economic growth.