Karnataka Clears 28 Projects Worth Rs 8,622 Crore Investments
Bangalore, Jul 15 (IANS): The Karnataka government has cleared 28 investment proposals collectively valued at Rs.8,622 crore with an employment potential for about 23,000 people, state industries minister Murgesh Nirani said.
"The state high-level clearance committee, which met here under the chairmanship of chief minister B.S. Yeddyurappa, approved the 28 projects with a combined investment of Rs.8,622 crore," Nirani told reporters here after the three-hour-long meeting.
Among the major projects cleared are Honda Motor Cycle & Scooter India Ltd plant at Narsapur in Kolar district with an investment of Rs.1,350 crore; Hindustan Corporation Ltd's 900-km pipeline to transport bulk LPG (liquefied petroleum gas) from Mangalore to Bangalore (Rs.610 crore); Mangalore Chemicals & Fertilisers plant at Panambur in Mangalore (Rs.483 crore), Mushashi Auto Parts India Ltd facility at Doddaballapur in Bangalore rural district (Rs.400 crore) and Karnataka Ferro Concentrates Ltd's pelletisation plant near Sandur in Bellary district (Rs.225 crore).
"Of the total projects, eight are sugar factories with a combined investment of Rs.2,006 crore in Bagalkot, Belgaum, Bijapur and Mysore districts. The factories will also generate 190 megawatts of power to the state grid and provide jobs for 2,391 people," Nirani said.
Sectorwise, two are in automobiles with a combined investment of Rs.1,435.52 crore; three in iron and steel (Rs.741 crore); two projects in food processing (Rs.730 crore); two in infrastructure (Rs.727 crore); two in chemicals (628 crore); two in engineering (Rs.619 crore); one each in education (Rs.470 crore) and IT park (Rs.165 crore) and Rs.772 crore in other sectors.
Other projects include Mahindra & Mahindra Ltd facility for aerospace engineering facility at Narsapur in Kolar district with an investment of Rs.284 crore, Padmashree Ravindra Babu Textiles Ltd's integrated unit at Rs.154 crore, Britannia Industries' greenfield plant at Doddaballapur at Rs.100 crore and Somany Ceramics Ltd plant at Sira in Tumkur district at Rs.80 crore.
Districtwise, five projects will come up in Bangalore Rural, four in Bijapur, three in Bellary, two each in Bagalkote, Kolar and Mysore and one each in Belgaum, Chitradurga, Dakshina Kannada, Dharwad, Ramanagara, Shimoga, Tumkur and Yadigiri.
"Of the 389 projects that were approved at the global investors' meet (GIM-2010) June 3-4, 2010 with a combined investment of Rs.3.92 lakh crore (Rs.3.9 trillion), 20 projects with a combined investment of Rs.1,750 crore have been implemented during the last 12 months, creating 6,500 jobs so far," Nirani asserted.
The state government also approved 524 small, medium and major projects with a combined investment of Rs.1.33 lakh crore (Rs.1.33 trillion) since the investors meet last year.