Projects worth Rs 11,495 cr approved in K'taka

Top Stories

»	India set to become third-largest economy by FY30-31: S&P Global
»	World problems can't be solved without India's involvement: German Minister
»	India aims to increase operational airports to 400 by 2047: Centre
»	100 days of Modi 3.0: More relief for middle class
»	India sees healthy 8 pc increase in overall rainfall, positive for inflation outlook

SME Times News Bureau | 18 Apr, 2022
In a massive push to the industrial growth, the State High Level Clearance Committee (SHLCC) on Monday approved a slew of industrial projects worth Rs 11,495 crore that would generate jobs for over 46,984 persons in Karnataka, officials said.

This includes Rs 6,000 crore investment from Exide Industries, which will set up India's largest Lithium-Ion cell manufacturing Giga factories for Advanced Cell Chemistry Technology near Bengaluru airport and expected to generate 1,200-1,400 jobs.

The 58th SHLCC meeting held at Vidhana Soudha under the chairmanship of Chief Minister Basavaraj Bommai and vice chairmanship of Large and Medium Scale Industries Murugesh R Nirani cleared the projects.

The High Level Clearance committee has considered and approved 5 new projects and 4 additional investment projects that are expected to further push the industrial growth and generate huge direct and indirect employment opportunities in Karnataka.

Seeking to dispel the notion that Karnataka would lose investments owing to some extraneous factors and apprehensions raised in some quarters, Large and Medium Industries Minister Murugesh Nirani said that the massive investment proposals approved by the government shows the position of Karnataka as a preferred destination for investors.

"These industrial projects have the potential to generate nearly one lakh jobs in the state. Our government has been giving preference to investment proposals that have the potential to create jobs. Our policies, pro-active steps and the prevailing business ecosystem are encouraging investors to invest in Karnataka. The investor-friendly atmosphere in the state is not available anywhere in the country," Nirani said.

The projects which are approved are Exide Energy Solutions Limited -- Rs 6,002 crore investment in Lithium-Ion cell manufacturing Giga factories at Phase-2 of Hi-tech Defence and Aerospace Park near Bengaluru International Airport with the potential of creating over 1,400 jobs.

Nsure Reliable Power Solutions Private Limited -- Rs 1,050 crore investment in Lithium-Ion cell manufacturing near Malur in Kolar with employment potential for 450 persons.

Rs 679.51 crore project by M/s JSW Renewable Energy (Vijayanagar) Limited to generate 130 MW Hydro power with employment potential for 65 persons. Rs 530 crore investment by Web Works India Pvt. Ltd to open Data Services Centre at KR Puram in Bengaluru with job creation for 69 people.

Rs 2,231 crore investment by Tetrarch Developers Limited in social infrastructure activities at Phase-2 of Hi-tech Defence and Aerospace Park near Bengaluru airport with employment potential for 45,000 people.

Additional investment proposals of Rs 471 crore investment by M/s ACC Ltd in limestone mining in Kalaburagi; Rs 280 crore investment by M/s Goodrich Aerospace Services Pvt Ltd in aircraft system at Aerospace SEZ near Bengaluru airport; Rs 242.89 crore investment in cement and thermal power plants by JK Cements Works at Bagalkot; Rs 9 crore investment by CV Projects Pvt Ltd in infrastructure for IT SEZ at Yelahanka were cleared in the meeting.

Chief Secretary to Government, Additional Chief Secretary, Department of Industries and Commerce and senior officials of various departments attended the 58th State High Level Clearance Committee meeting.