Karnataka earmarks Rs 20,000cr investment

The Karnataka government has earmarked an investment of over Rs 20,000 crore across various infrastructure sectors.

Addressing the Excon-05, the third construction equipment and construction technology trade fair here on Wednesday, Karnataka minister for finance, industry and infrastructure development, P G R Sindhia said Rs 15,000 crore has been set aside for developing the power sector.

An aid of Rs 2,800 crore from the World Bank will come for road upgradation and Rs 3,500 crore as assistance from Japan for Cauvery stage 4B water supply to Bangalore.

Events like Excon present an opportunity for the state to absorb some of the latest technological developments that can propel infrastructural growth, he told CEOs and company representatives.

"We recognise the need for infrastructural growth and are making concerted efforts for it in Bangalore as well as the rest of the state, by taking up upgrade of airports in three cities (Hubli, Mangalore and Belgaum), and new airports at Mysore, Hassan and Gulbarga," he said.

As for the railway infrastructure, the state has initiated double lining of the Mysore-Bangalore link, gauge conversion of the Bangalore-Mangalore line and work on the Hubli-Sholapur line, he added.