Karnataka clears nine IT investment projects

The Karnataka government on Monday cleared nine IT projects with a combined investment of Rs.3,097 crore, including a proposal by global chip maker Intel's Indian subsidiary.

"The state high level clearance committee, chaired by Chief Minister Siddaramaiah, cleared four major IT projects, with combined investment of Rs.2,957 cores, while the single window clearance cell, chaired by IT Minister S.R. Patil, cleared five projects with combined investment of Rs.140 crore," said an official statement.

Intel will invest Rs.1,100 crore to set up its second computer software development centre and hardware design services facility in the city's southeast suburb with job potential for 3,000 engineers.

Velankani Electronics Ltd will invest Rs.1,130 crore in the electronics city to expand its capacity to make electronic products and generate jobs for 2,400 people.

Saltire Developers Ltd to invest Rs.463 crore for setting up a special economic zone for IT/IT-enabled services with job potential for 25,000 people.

Amin Properties will invest Rs.265 crore to set up a SEZ at Devanahalli near the city's airport for IT/IT-enabled services with job potential for 8,000 people.

The five other IT projects are from Alisa Agency (Rs.14 crore), Regen Environ Management Services (Rs.7 crore), Itwine Technologies (Rs.7.5 crore), Sol Biz Consulting Ltd (Rs.16.5 crore) and Hical Technologies (Rs.95 crore) with a combined job potential for 1,355 people.

The approvals come two days ahead of the global investors meet (GIM) from Wednesday in the city to attract global investments in diverse sectors.