Karnataka government accords approval to 60 new projects
May 25, 2010
The 22nd State High Level Clearance Committee (HLCC) of the Karnataka government has given its approval for 60 new industrial projects investing US$ 12.3 billion, including two of Infosys Technologies and one of Wipro. According to Industries Minister, Mr Murgesh Nirani, the two projects of Infosys would be located in Sarjapur Road and Devanahalli Industrial Area in Bangalore Rural district and be established at a cost of US$ 621 million. Wipro’s software development project would involve US$ 112.7 million. Of the 60 approved new industrial projects, maximum are in iron and steel sector (10) followed by six in non-conventional energy, and four each in gas-based energy and thermal. Remaining are in sectors such as software development, agro-based, cement, housing, textiles and minerals.
Further, the Reserve Bank of India's currency note paper project in Mysore with a proposed investment of US$ 247.6 million has also gained approval. Some other important projects, which have been accorded approval, include Reliance Cementation's cement plant, Nestle's Instant Noodles & Mixed Condiments project and gas-based projects of Bharat Forge, Luxor Power, Saheli Exports and Bagmane Exports.
The Minister also informed that the state was thoroughly prepared for the conduct of the two-day Global Investors' Meet to be held on June 3-4, 2010 at Bengaluru. He also stated that eminent business heads who are expected to make appearances at the Meet are Laxmi Mittal, Vijay Mallya, Kumaramangalam Birla, Sajjan Jindal and Shashi Ruia.
Earlier, the state also approved of a mono-rail project to be floated across the city of Bengaluru to facilitate in-city movements. According to the state chief minister, Mr B S Yeddyurappa, the plans for the monorail— US$ 1.4 billion, 34-km high speed rail link between the city and the Bengaluru International Airport at Devanahall—and for Metro-II at a proposed cost of US$ 3 billion to cover more areas in a bid to further decongest the city’s roads are being concretised.
