Karnataka Clears 34 mega Investment Proposals of Rs 94,300 Crore
From Our Special Correspondent
Daijiworld Media Network
Bangalore, Mar 29: In less than three months after clearing 38 mega investment proposals with a total estimated outlay of Rs 1.34 lakh crore, Karnataka has cleared another 34 mega projects with a total investment of Rs 94,300 crore.
Chief Minister B S Yeddyurappa, who chaired a meeting of the single window high level clearance committee for considering mega industrial investment proposals, said the very fact that major industrial companies including multi-national companies were coming forward to set up their undertakings in the state was a sign for the emergence of Karnataka as the major investment destination.
Briefing reporters after the meeting, Karnataka’s Large and Medium Industries Minister Murugesh Nirani said the investment proposals cleared at the meeting chaired by the chief minister included four cement units, four power plants, one IT and ITeS Special Economic Zone, a logistics park, steel plants, engineering units, rubber products and sugar factory.
Pointing out that a formal memorandum of understanding (MoU) will be signed with the promotors in June ahead of the Global Investors’ Meet, Nirani said the new projects when completed were expected to provide direct employment opportunities to about one lakh persons.
Nearly a third of the new projects will be coming up in northern Karnataka region, the minister said.
"We expect the Global Investors’ Meet scheduled to be held in June to be a big success,” the minister claimed.
Yeddyurappa will be participating in a road show in Maharashtra later this week, the minister said disclosing that 100 top industrialists including senior officials of the Tata Group, Reliance Industries, Mahindra and Mahindra would be participating the road show. The state government has also chalked up plans to conduct a road show in Singapore before the Global Investors’ Meet.
Top officials of the Industries department would visit Seoul on April 5 to meet Posco officials ``for holding talks on its proposed steel plant in Karnataka,” Nirani said.
Posco had proposed to establish a 6 million tonne steel plant, involving an investment of Rs 32,000 crore.
Among the projects cleared include a proposal from the MNC, Coca Cola, for establishing its third bottling plant in the state at an investment of Rs 107 crore in the Bidadi industrial area; 50 mw solar photo voltaic power project of Moserbaer at an investment of Rs 1,000 crore in Chikkaballapur district.
Multinational companies Easun Reyrole has come forward to set up Electrical Switchgears in Harohalli Industrial Area, Starragheckert for Aerospace Components in Devanahalli Aerospace Industrial Area, Tokai Rubber Auto Parts for Automotive components in Harohalli Industrial Area and Fowlerwestrup India for Agriculture Products Processing Machineries in Malur, Kolar District.
Country’s leading bulb manufacturer Surya Roshini will start CFL bulbs, energy efficient tube light and LED lamps manufacturing unit while GI Pipe manufacturer Surya Roshini will setup a GI Pipes and Steel ERW Black Pipes manufacturing unit in Shimoga District.
There is good news for farmers of North Karnataka particularly Haveri District where Gujarat Ambuja Exports Limited will be setting up Maize Starch plant in Shiggon Taluk, Haveri District with an investment of Rs 100 crore.
Industrial Finance Corporation of India Limited (IFCI) has proposed to establish a Financial City near Devanahalli Industrial Area in Bangalore with an investment of Rs 1000 crore. Country’s No.1 Search Engine Just Dial will be setting up IT/ITES BPO and Software Development Center at Devanahalli Industrial Area, Bangalore with an investment of Rs 450 crore.
Getting down to business after the BBMP polls on Sunday, the chief minister also held a meeting of senior cabinet ministers and top officials on the implementation of the state’s budget proposals for the coming year.