Identifies 112 main projects under Global Investors’ Meet.
As part of its plan to attract more investments into the state, the Karnataka government is in the process of inviting more private players to increase public-private-partnership (PPP) in the state. This will be extended to sectors like Railways which has not seen much projects as PPPs so far.
“We are looking at PPPs in nine projects in Railways. Earlier, PPP in Railways was only talked about. Nowadays, we are seeing it transforming into reality,” said V Madhu, principal secretary, Infrastructure Development Department, Government of Karnataka.
It is estimated investment into extending the rail network connectivity would be to the tune of Rs 23,300 crore by 2020.
As a first step to attract private partners, the government’s preparations for the global investors meet is on in full swing. It was postponed from January to June 2010 due to the flood situation in Karnataka.
“We have identified 112 important projects that would require private partnerships. We are making profiles for each industry and accessing global companies and counsulate offices. We will hold roadshows, presentations and discussions on the projects to market them in other countries,” said Madhu. Government and industry members have estimated that investment of close to around Rs 2,00,000 crore could be pledged during the event.
The government has identified steel, cement, food processing, IT/BT, automobile, readymade garments, sugar, pharma, power and media and entertainment as its main growth sectors in the coming year. The government has notified around 30,000 acres of industrial land for upcoming projects. It would look at allocating land especially in the Suvarna Karnataka Development corridor which would cover 11 district headquarters and more than 20 major towns along the highways and major roads and rail links.
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The government is also focusing on developing minor ports in the state. Karnataka has a 300-km-long coastline and 10 minor ports. For its proposed Tadri Port project, the government is planning a capacity of 34 mtpa in the first phase which is expected to be read by 2013.
An investment of Rs 3,000 crore is expected into it. The state will create a special purpose vehicle (SPV) for the purpose with a private partner where the government will retain a 26 per cent stake. For this, the government has acquired 1,200 acres of land. The government will make a notification on the private partners in the coming months.