State to throw open 190 infra projects to PPPs
The Karnataka government is planning to throw open some 190 infrastructure-related projects under the public private partnership (PPP) and plans to introduce the Infrastructure Bill soon.
Addressing a gathering of industry captains at an Interactive Session organised by the Bangalore Chamber of Industry and Commerce (BCIC) in Bangalore on Thursday, Murgesh Nirani, Minister for Large and Medium Scale Industry said: “The Infrastructure Bill is expected to provide the much need boost to infrastructure projects with the highest government official being in charge of the entire process. The bill will also provide the creation of a Karnataka Viability Gap Fund to the tune of Rs 500 crore to aid these infrastructure projects besides tapping some of the similar such funds of the Government of India.”
Referring to the upcoming Global Investors Meet schedu-led for June 6-8, Nirani said over 10,000 business delegates comprising those from top management will have the opportunity to interact and network with business leaders and policy makers. He said: “B2B meetings, focused conferences and sectoral presentations are also on the agenda. This will be a big boost to economic development in Karnataka. The strong focus of the GIM Expo will facilitate participation of MSMEs. Programmes like workshops on vendor development and online partnering meetings will give MSMEs a platform to connect with PSUs, MNCs and large industries.”
In a similar vein Nirani also promised industry captains that land, water and power are the key elements to attracting investments. He said: “The state has initiated a unique ‘Land Bank’ in which about 119,000 acres suitable for industries have been identified. KIADB has initiated acquisition of most of the land and is ready to offer it to investors. Land Banks have been created in places like Dharwad and industrial parks in cities like Mysore, Mangalore and Gulbarga are being established so that we can attract industry to these places along with certain financial incentives.”
Nirani also referring to the last edition of GIM 2010 said: “It was a success and nearly 62 per cent of the MoUs signed during GIM 2010 are under implementation while 36 units have already started their production. Another 36 are in progress, 250 units are in the pipeline. The gestation period for each company varies depending on factors including the business they are in. The government is extending all the necessary support and co-operation so as to ensure that these projects are implemented at the earliest.”
Vinod Nowal, President, BCIC, delivering the welcome address said though Karnataka has all the potential to stand out and attract investment, a few thorny issues are holding up fresh investments and expansion plans of the exiting units happening in the State. He requested the Nirani that aspects like smooth transfer of land to the industry, single window clearances on various licenses that are required and overall improvement in the infrastructure facility will go a long way in getting more investments into the State.