State set to sign MoUs with 11 companies for Rs 18,900 crore.
The Karnataka government, which attracted 389 companies to invest in the state during the global investors’ meet in June last year, is now eyeing Vibrant Gujarat to attract further investors. The 5th global investors summit is being organised by the Gujarat government on January 12 and 13.
“We are associating with the government of Gujarat in their global investors summit. A special session on Karnataka will be organised on January 12 to highlight investment opportunities in the state. Already 475 investors have registered for our state session,” minister for large and medium industries Murugesh R Nirani said.
The state government is all set to sign MoUs with 11 companies at Gandhinagar on January 12 for an investment of Rs 18,900 crore. Further, five companies have shown interest in signing expressions of interest to start their project in the state, Nirani said.
Talking to reporters here on Monday, he said the department of industries and commerce had taken several steps to speed up the implementation of investment proposals signed at the GIM last year. An implementation committee headed by the chief secretary has conducted four meetings and reviewed the progress.
Already, 180 companies have started work on their projects involving a combined investment of Rs 2.77 lakh crore. A technical experts team has been constituted to assess the water available for industrial use in rivers and tanks in the state.
VP Baligar, principal secretary, department of commerce and industries, said the high-level clearance committee will meet on January 10 to clear 30 new proposals worth Rs 35,000 crore. The land audit committee has scrutinised the requirements of the industries for land and estimated that 80,000 acres would be required for the new industries.
He said land acquisition for ArcelorMittal’s steel project was under way in Bellary and the government was waiting for Posco to select a location for its steel plant. The company had been asked to select a place either in Gadag or Koppal, he said. The company has indicated that it requires 2,500 acres land for its project.
