Karnataka offers 100 acres to set up Chinese industrial park

Sunpa Group of Companies interested to bring in $1 billion from Chinese companies in this park

The Karnataka government on Monday has agreed in-principle to allot 100 acres land through the Karnataka Industrial Areas Development Board (KIADB) at Vasanthnarasapura Industrial Area for setting up of a Chinese industrial park.

K Ratna Prabha, additional chief secretary - Commerce and Industries, announced after a meeting with the visiting high-power delegation from the Yunnan Province, Republic of China.

The Sunpa Group of Companies from China would be bringing investments of around $1 billion in the proposed Industrial Park, according to a press statement issued by the Federation of Karnataka Chambers of Commerce and Industry (FKCCI).

 

Chief minister Siddaramaiah, who is occupied with the ongoing legislature session at Belagavi, conveyed his wishes to the visiting delegation and invited them to invest in the state. The delegation comprises the President of China Development Bank in Yunnan Province and other senior bureaucrats, bankers, who are on a visit to Bengaluru.

The delegation will inspect the actual location and approve the lending for the proposed park.  

Liu Le, director, Yunnan Sunpa Group of Companies, an anchor investor from Yunnan Province, today held discussions with Ratna Prabha. He conveyed that investments would be in various sectors including tele-medicine, manufacturing of medical equipment and accessories, solar power generation and manufacturing of panels and technology research.

 

Liu also mentioned about the potential for investments from Yunnan to Karnataka in sectors like fertiliser, agriculture, floriculture and food processing.

The Governor of Yunnan Province had visited Bengaluru during May 2014. He had also invited a FKCCI team to visit the Yunnan province.  The FKCCI team that included its president and vice president visited the Yunnan Province twice during the past few months to attract investments.

As a result, a high level Chinese delegation is now visiting Karnataka. Senior officials of the Department of Industries and Commerce will be accompanying the Chinese delegation to Vasanthnarasapura tomorrow, the statement added.