Karnataka clears investments worth ₹17,182 crore with potential to create 12,496 direct jobs
The Hindu
Karnataka government approves 67 investment proposals, generating over 12,000 jobs, with a total outlay of ₹17,182.77 crore.
Karnataka government on Wednesday cleared four new investment proposals and two additional investment/amendment proposals with a cumulative outlay of ₹15,441.17 crore at the 65th meeting of the State High-Level Clearance Committee (SHLCC), headed by the Chief Minister Siddaramaiah. They have the potential to generate 5,277 direct jobs.
The government also approved 63 other projects with a total investment of ₹1,741.6 crore at the 153rd State-Level Single-Window Clearance Committee (SLSWCC) headed by Large and Medium Industries Minister M.B. Patil. These projects are expected to generate some 7,219 new jobs in the State.
The projects cleared by the SHLCC include Shree Cement Ltd. with an investment of ₹2,406 crore to create 300 jobs, Dalmia Cement (Bharat) Ltd.’s ₹3,000-crore investment with a job creation offer of 570, one more project by Dalmia Cement (Bharat) Ltd. with ₹3,020-crore investment to create 570 job, and Emmvee Energy with an investment proposal of ₹5,495 crore to create 2,508 jobs across the State. These four companies cumulatively would bring in an investment of ₹13,921 crore and create 3,948 jobs, said a release.
Two companies that are furthering their commitment in the State are Colortone Textiles and Bosch Automotive Electronics. which would make additional investments of ₹190.17 crore (371 jobs) and ₹1,330 crore (958 jobs), respectively, the release added.
The 63 projects cleared by the SLSWCCinclude Provit Foods, investing ₹125.88 crore to set up a feed plant in Moodbidri taluk of Dakshina Kannada district, which is expected to generate employment opportunities for some 308 people.
Other projects cleared include setting up a manufacturing facility for prefabricated modular products at an investment of ₹97.52 crore at Devanahalli in Bengaluru Rural district. This facility will create 200 additional jobs. Also, TTP Technologies, with an investment of ₹91.2 crore, would set up a transformer radiator unit at Hirehalli in Tumakuru district, and it would create 900 new jobs, said Mr. Patil.
“A total of 60 projects on state-of-the-art feed plants, prefabricated modular, bus body building, aerospace- and defence-related electronics systems, and spare parts manufacturing, and three projects for additional capital investment were added, so 63 projects have been approved by the government in all,” said Mr. Patil.
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