Karnataka clears 55 industrial projects worth Rs 3,451.24 cr investment

Karnataka Industries and Commerce Department on Tuesday said it has cleared a total of 55 investment proposals worth Rs 3,451.24 crore, promising 33,049 employment opportunities.

The 139th State Level Single Window Clearance Committee (SLSWCC) meeting was held under the chairmanship of Minister for Large and Medium Scale Industries Murugesh R Nirani on Monday to decide on investment clearances.

The committee considered and approved eight "important large and medium size industrial projects" with investments of more than Rs 50 crore. These projects are worth Rs 2,012.14 crore and are expected to create employment opportunities for 22,033 people in the State, an official release said.

At the SLSWCC meeting, 43 new projects with investments of more than Rs 15 crore and less than Rs 50 crore were also cleared. These projects are worth Rs 1,187.93 crore and would generate jobs for 11,016 people in Karnataka.

Four projects of additional investment have also been approved which will result in an investment of Rs 251.17 crore and would generate massive employment opportunities.

Among the major investment/project proposals approved in the meeting include- By M/s Shree Basaveshwar Sugars Limited Bijapur at Karjol Village, Babaleshwar Hobli, Vijayapura District, with investment of Rs 494.75 crore and employment target of 90. By M/s Subramanya Construction and Development Company Limited, Bengaluru at Tavarekere, Bangalore Urban District, with an investment of 481.61 crore and employment opportunity to 20,000 people.

Also by M/s HCL Technologies Ltd in Bengaluru with investment of Rs 400 crore and employment for 1,300 people, among others.