K'taka to open coastal region for investment

Karnataka plans to open the coastal region to investment with many companies showing interest in the area.

IT majors Wipro and TCS and Suzlon Energy have proposed projects in coastal Karnataka.

"Karnataka has a long coastline of over 300 km. Nearly 30 per cent of all industrial investments in the state have been in the coastal region in the last five years. It underscores the growing economic importance of the coastal belt. We are working out a plan to attract more investments to this region," Karnataka chief minister HD Kumaraswamy told CII's 'SumInfra 2007' here.

According to him, the coastal region has an ecosystem to promote industrial growth. It is well connected by road, rail and air. It is also home to a number of educational institutions.

The Manipal Academy of Higher Education, a deemed university is located in Udupi district. Other coastal districts like Uttara Kannada and Dakshina Kannada have a good number of engineering colleges.

"We expect more investments in these districts with the Hassan-Mangalore railway gauge conversion nearing completion. The state has proposed a new railway line between Hubli and Ankola (Uttara Kannada district)," he added.

Kumaraswamy said the government had also proposed an investment in port infrastructure.

"The New Mangalore Port will act as a gateway for international trade in iron ore, coal, coffee and container cargo. The rail link will also necessitate improvement in port infrastructure. These developments are bound to change the economic scenario of coastal Karnataka," he stated.