This Indian State Approves Rs 34,000 Crore Investments; 48,000 New Jobs Will Be Created!

This Indian State Approves Rs 34,000 Crore Investments; 48,000 New Jobs Will Be Created!
This Indian State Approves Rs 34,000 Crore Investments; 48,000 New Jobs Will Be Created!

The Karnataka government said on Friday that it has cleared 18 big-ticket projects valued at Rs 34,432 crore which can potentially create 48,850 jobs.

Sectors attracting investment

The project proposals were cleared in the 59th state high-level clearance committee (SHLCC) chaired by chief minister Basavaraj Bommai in Bengaluru.

“Ethanol, aerospace, semiconductor manufacturing equipment, steel and automobile are some areas in which investment proposals have been given approval,” Bommai said. 

The SHLCC has considered and approved 8 new projects and 10 additional investment projects that are expected to push the industrial growth and generate direct and indirect jobs in the state.

Ethanol plants

One of the projects cleared is Trualt Bioenergy Limited’s proposal to set up an Ethanol Plant of 2,000 KLPD capacity with an investment of Rs 1,856.47 crore

Chidanand Basaprabhu Kore Sahakari Sakkare Kharkhane’s distillery / ethanol plant is yet another ethanol related project (Rs 270 crore).

Shree Renuka Sugar’s distillery/ethanol plant has been pitched at Rs 775 crore.

Toyota’s plan

Another one is from Toyota Kirloskar Motor Private Limited which made an investment proposal of Rs 3,661.5 crore at Bidadi industrial area.

It plans to produce passenger cars and a diversified product profile of hybrid technology vehicles along with ICE vehicles.

The project would create employment opportunities for 3,254 persons.

Steel, semiconductor, solar

Carl Zeiss India (Bangalore) Pvt Ltd proposed an investment of Rs 977 crore.

Rs 2,500 crore was pledged by Prakash Sponge Iron and Private Limited for an integrated steel 0.2 MMTPA.

Applied Materials’s Showerheads/capital equipment for semiconductors is another project at Rs 1573 crore.

Emvee Photovoltaic Power’s solar PV module and cells are proposed at Rs 232 crore.

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