DH News Service, Bagalkot: Goa-based company Tungabhadra Minerals Company will set-up a Rs 25,000 crore steel plant in the district, Large and Medium Industries Minister Murugesh Nirani stated here on Sunday. Nirani told reporters that in the first phase the company had agreed to invest Rs 10,000 crore and would be providing jobs for nearly 50,000 people. He said a team of senior officials from the company were already searching for a suitable place in the district to set up this mega plant. A team led by Tungabhadra Minerals Company Director Gautam Radia was searching for a place between Kulgeri Cross and Gaddankeri Cross, and between Hunagund and Amminghad in Hunagund taluk to set up the steel plant. The minister also stated that a technical team of the company would also be visiting the district shortly. Based on the report of this team, the place would be selected. He said, the government had come forward to provide all the basic facilities and infrastructure for this company to set up the plant. Many other companies had also evinced interest in setting up their industries in the district, he added. Speaking on the occasion, Radia, who was also present in the media conference, stated that Bagalkot district was most suitable to set up a steel industry. He said, if the government provided 4,000 to 6,000 acres of land needed for setting up the plant, than the steel unit would be set up within next 36 months. CM's tour Nirani said the government had decided to hold an international investors' meeting in Bangalore in 2009. Towards this, he said, a team led by Chief Minister B S Yeddyurappa, and including himself (Nirani) would be visiting different countries to invite industrialists for this meet. He said, while the chief minister would be visiting the United States on August 28, he would be touring Germany on September 13, 14, and 15. The non-resident Indians (NRIs) would also be invited to invest in the State, he added.