Daijiworld Media Network - Bengaluru
Bengaluru, Oct 25: Karnataka’s State High-Level Clearance Committee on Friday approved investment proposals worth a total of Rs 27,607.26 crore, expected to generate 8,704 direct jobs, officials said.
The 66th meeting of the committee, chaired by Chief Minister Siddaramaiah, cleared 13 proposals, including 11 new projects and two expansions.
Large and medium industries minister M B Patil said the new proposals involve investments of Rs 27,228.51 crore, while the expansions account for Rs 378.75 crore.
“The approvals will significantly boost industrial development in the state while creating substantial employment opportunities for locals,” Patil said in an official statement.
Among the new investment proposals, Vayu Assets Private Limited will invest Rs 1,251 crore creating 1,912 jobs, Tejas Networks Limited will invest Rs 542.19 crore generating 1,312 jobs, and Reliance Consumer Products Limited will bring in Rs 1,622 crore with 1,200 jobs.
JSW JFE Electrical Steel Private Limited is set to invest Rs 7,102 crore creating 900 jobs, HSS Textile Private Limited will invest Rs 740 crore generating 800 jobs, and SFX India Mfg Private Limited will make the largest investment of Rs 9,298 crore leading to 806 jobs.
The two additional investment proposals include Embassy Industrial Park, which will invest Rs 80 crore, and Balaji Wafers Private Limited, which will expand operations with an additional investment of Rs 298.75 crore, taking the total expansion value to Rs 378.75 crore.
The approvals span sectors such as steel, textiles, consumer products, technology, and industrial infrastructure, marking a major push for industrial expansion and employment generation across Karnataka.