Karnataka clears 24 projects with Rs 10,858 cr investment
From Our Special Correspondent
Daijiworld Media Netowrk

BANGALORE, JUN 25: As many as 24 mega projects with total estimated investment of Rs 10,958 crore were cleared by Karnataka’s state high level clearance committee at a meeting chaired by chief minister B S Yeddyurappa on Wednesday.

The projects when implemented are expected to provide direct employment to over 60,000 people with huge indirect employment generation potential.

Bangalore is expected to have another five-star hotel with clearance granted to Trishul Developers to build a five-star hotel and service apartment at a cost of Rs 119.31 crore. Proposals for building a luxury hotel and service apartment by City View Bangalore Properties Pvt Limited at a cost of Rs 971 crore and also for setting up a luxury hotel in Bangalore Rural District at a cost of Rs 51.75 crore and a resort in Uttara Kannada district at a cost of Rs 100 crore were also cleared.

The SHLCC meeting attended by several cabinet ministers, including Karnataka’s large and medium industries minister Murugesh Nirani and tourism minister G Janardhana Reddy, comprise of four projects to set up iron and steel units involving a total investment of Rs 3,000.47 crore.

A 435-mw thermal plant being set up by Chennai-based Surana Power Ltd at a cost of Rs.2,398 crore in Raichur and two wind power projects with a capacity of 24 mw in Belgaum and 10 mwin Gadag districts respectively were also cleared.

Incidentally, Belgaum-based Vishwanath Sugar Ltd, a firm owned by family members of horticulture minister Umesh V Katti, has been given the green signal to  enhance its crushing capacity from the present 2,500 tonnes of cane per day to 5,500 tonnes.

Proposals for setting up an ITES park with an investment of Rs 459 crore and an ITES Special Economic Zone with an investment of Rs 615 crore were also cleared.

``All the companies have been asked to set up the new projects or at least begin work within two years,’’ the large and medium industries minister Murugesh Nirani told newsmen after the meeting.

Among the districts, Nirani said Raichur district has received the highest investment proposals totalling Rs 2,398 crore followed by Haveri with investment of Rs 1,800 crore and Rs 1,500 crore for Bagalkot. Bangalore city got two projects with an investment of Rs 1,090.31 crore, Nirani said.

The minister said notices had been served on 40 companies seeking reasons on why clearances granted by the Government should not be revoked for their failure to begin work on their projects even two years after getting approval. In one case, it had been decided to cancel 30 acres of land granted to Bosch company due to the delay in going ahead with a project, he said.

In the last one year, investment proposals worth around Rs 1,10,447crore with potential for creating additional employment potential of 5.46 lakh persons, he said.