The Karnataka government today cleared 55 new investment proposals involving an investment of Rs 39,583 crore with an employment potential of 115,000.
Major investments cleared today includes the expansion project of Toyota Kirloskar Auto Parts Pvt Ltd at investment of Rs 500 crore in Bidadi near Bangalore, Tyco Electronics Corporation India Pvt Ltd, which has proposed to invest Rs 595 crore to manufacture connector cables and other electrical components in Devanahalli industrial area.
The state high level clearance committee (SHLCC) headed by chief minister B S Yeddyurappa cleared these proposals at its 24th meeting here today.
Briefing reporters, Murugesh R Nirani, minister for large and medium industries, said, “Most of the new proposals cleared today are expansion projects of many existing industries in the state. The state government will organise the second edition of the Global Investors Meet on June 3 and June 4, 2012, to attract more investments.”
Among other projects, Indo Nissin, a subsidiary of Nissin Foods of Japan, which manufactures noodles, has proposed to set up a plant in Harohalli industrial area for an investment of Rs 160 crore. Mahindra Aerospace Pvt Ltd has come forward to set up aerospace component manufacturing unit in Narasapura industrial area in Kolar district at an investment of Rs 284 crore.
Target Corporation India Pvt Ltd, a subsidiary of the US-based Target, plans to set up a software and business service centre in Devanahalli industrial area for an investment of Rs 300 crore. Schneider Electric India Pvt Ltd plans to expand its electronic power gadget capacity in Attibele industrial area in Anekal taluk at a cost of Rs 53 crore.
Pepsico India Holdings is expanding its unit to manufacture non-alcoholic beverages and other food products at its existing facility in Nelamangala at Rs 55 crore, while Wipro, the third largest software exporter, has proposed to set up a unit in aerospace SEZ near the Bangalore international airport at an investment of Rs 52 crore.
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KAPCI Coatings India Pvt Ltd, an Egypt-based company is establishing a paint manufacturing company in Harohalli Industrial Area for an investment of Rs 55 crore. Bando India Pvt Ltd a Japanese company has shown interest in establishing a new transmission belt manufacturing plant in Narasapura Industrial Area in Kolar district with an investment of Rs 99 crore.
The state government would soon open a regional office of the Karnataka Udyog Mitra, a single window agency, in Mumbai to facilitate investments from the western region of the country, Nirani added.