Karnataka govt approves investment proposals worth Rs 34,432 crores
Aug 06, 2022
Bengaluru (Karnataka) [India], August 6 : The Karnataka State High-Level Clearance Committee headed by Chief Minister Basavaraj Bommai cleared 18 projects with total investments of Rs 34,432.46 crores, said officials on Thursday.
The approvals came at the Committee's 59th meeting. The projects are expected to create employment opportunities for 48,850 people.
The projects include 8 new industrial establishments including one from Toyota and 10 additional investment proposals from existing units.
Speaking after the meeting the Chief Minister said, "Industries in Ethanol, Aerospace, Semiconductors, machine manufacturing, steel and automobile sectors have come forward to invest and they have been cleared."
Major projects that have been cleared include Toyota Kirloskar Motor Private Ltd (Rs. 3661 cr), Truals Bioenergy Ltd-Ethanol Plant worth Rs. 1856 crores.
In the Semiconductor sector industries, the state cleared Applied Materials India (Rs.1573 cr).
Other approvals included medical instruments and spectacle lenses by Carl Zeiss India Pvt. Ltd (Rs. 977 cr).
Approvals also included MV Photovoltaic Power Ltd (Solar Panels, Rs. 232 cr), Sri Renuka Sugars (Ethanol, Rs. 775 cr), Chidananda Basavaprabhu Kore Coop (Ethanol Rs. 270 cr).
Large and Medium Industries minister Murugesh Nirani, Water Resources minister Govind Karjol, Sugar minister Shankar Patil Munenakoppa, Horticulture minister Muniratna and senior officials were present.
