K'taka's coastal districts attracting huge investments

Investments in large and medium scale industries in the coastal districts of Udupi and Dakshina Kannada is set to reach record levels," Katta Subramanya Naidu, Karnataka minister for large and medium scale industries, said.

Speaking to reporters after chairing an 'investors conference' with the Industrial bigwigs here on Monday, the minister said that 14 companies in an area of 430 acres had plans to invest around Rs 3,301 crore in different stages in the districts.

This will generate employment for about 67,000, the minister informed.

Wipro, TCS, Suzlon, Satyam, Infosys and the Leela group have expressed willingness to either expand or infuse fresh capital into new ventures, he said.

Applications for investmentas to the tune of Rs.50,000 crore for 48 projects were being processed.