Dhruvdesh Metasteels, a sponge iron manufacturer from Bangalore is planning to invest Rs.1200 million for a forward and backward integration programme. It plans to extract iron ore from Tumkur district and also to get into finished steel products. It is also setting up a new manufacturing unit with 40,000 tpa capacity with a rolling mills, steel melt shop and a 8 MW power plant for captive consumption. The facility spreads over 65 acres in Hirebaganal village in Koppal district. For its backward integration programme of iron ore mining, it has acquired mining license for 20 years in Chikkanayakanahalli in Tumkur district.