Karnataka allows Intel to invest Rs 1,100 cr on new campus

Also clears four IT projects worth Rs 3,000 cr which could generate 40,000 jobs

Karnataka has cleared a proposal by chipmaker Intel Corp to invest Rs 1,100 crore in an eight-acre facility in Bengaluru, which could generate 3,000 jobs in the tech city.

Intel has presence in Bengaluru building new fabless chips and contributing to semiconductor programmes for the company. The firm already employs 7,000 professionals in the city. Intel’s investment proposal was cleared by Karnataka CM Siddaramaiah. The government has also cleared four information technology projects worth Rs 3,000 crore, which could generate 40,000 jobs.

Intel has invested $2 billion in India so far. Additionally, Intel Capital, which manages investment for the US chipmaker, has made strategic investments in firms to help stimulate technological innovation in India, the company said on its website in line with a $250-million funding commitment for the country, the company said on its website.

Velankani Electronics is investing Rs 1,130 crore to set up an electronic products factory on the outskirts of Bengaluru, which would generate jobs for 2,400 people.

Similarly, Saltire Developers is setting up an IT park and Hical Technologies is setting up an engineering services centre near Bengaluru.