Government clears 55 projects worth ₹7,506 crore, to create over 28,000 jobs in Karnataka
The Karnataka government on June 19 approved 55 industrial projects with an investment of ₹7,506 crore, which have the potential of creating more than 28,000
The Karnataka government on June 19 approved 55 industrial projects with an investment of ₹7,506 crore, which have the potential of creating more than 28,000 jobs. Of these, 41 projects would be located outside Bengaluru Urban and Bengaluru Rural districts, as part of the State’s Beyond Bengaluru initiative, said Large and Medium Industries Minister M.B. Patil. Speaking at the State-level Single Window Clearance Committee (SLSWCC) meeting in Bengaluru, the Minister said that four of the approved proposals involved Foreign Direct Investment (FDI).
Taiwan-based Teaming Automation would invest ₹20 crore, South Korea’s YJ Link would invest ₹177.96 crore, Germany’s Revum would invest ₹16.50 crore, and Japan-based Shinko will invest ₹100 crore According to the Minister, most of the approved projects are in the aerospace, ESDM (Electronics System Design and Manufacturing), and general engineering sectors. Of the approved proposals, 35 projects involve investments of more than ₹50 crore each, while another 15 projects would attract investments ranging between ₹15 crore and ₹50 crore.
In addition, five companies would undertake expansion projects involving a further investment of ₹223.61 crore. Patil said the approved projects included investments by Kaynes Electronics (₹495 crore in Chamarajanagara district), SFO Technologies (₹490 crore in Doddaballapura), Orbit Industrial Park (₹454 crore in Kolar), Terra Circuits (₹441 crore in Vijayapura), Bellatrix Aerospace (₹404 crore in Bengaluru Rural), JSW Port Logistics (₹380 crore in Ballari), Shahi Exports (₹337 crore in Kalaburagi), Infragalaxy (₹300 crore in Dakshina Kannada), Hi-Tech Metallics (₹250 crore in Vijayapura), Praxair India (₹210 crore in Hoskote, Bengaluru Rural), Sobha Realty (₹201.15 crore in Bengaluru Urban district), and RMZ (₹198.62 crore in M.
Hosahalli, Hoskote). Rhone Power would invest ₹177.20 crore in Gadag, Vahini Polytech ₹170 crore in Tumakuru, Aries Refinery ₹157.45 crore in Kolar, Jurozin Developers ₹137 crore, Urbeno Realty ₹125 crore, Ayatana Hospitality ₹110.27 crore in Kodagu, and Bulk Liquid Solutions ₹110 crore in Bengaluru Rural district.
The BriefWire