Kudremukh Iron Ore Company is planning to set up a beneficiation plant and a pelletisation unit in Bellary district in the state. The iron ore beneficiation plant will have a capacity of four million tonnes per annum (MTPA) and the pelletisation unit will have a capacity of two MTPA. The total investment for development of mine, setting up of beneficiation plant and pelletisation plant will be around Rs 20000 million. As of February 2016, the company has signed an MoU with the state government.