Karnataka approves 62 projects worth Rs 3,600 crore, set to generate 10,750 jobs

mangaloretoday.com

Bengaluru, Nov 29, 2023: The Karnataka government on Tuesday approved 62 industrial investment proposals, amounting to Rs 3,607.19 crore, with the potential to generate as many as 10,755 jobs within the state.

 

The State Level Single Window Clearance Committee (SLSWCC), led by Karnataka Minister MB Patil, granted approval for eight projects exceeding Rs 50 crore in investment, totaling Rs 2,088.44 crore. These eight projects will create as many as 6,360 jobs.

Key investors in these approved projects include Texcon Steels, Hundri Sugars and Ethanol Private Limited, Bren Life Sciences, Alpine Ethanol, Virupaksha Laboratories, and Qualcomm India, among others.

Among the 62 proposals, 51 investment projects fall in the range of Rs 15 crore to Rs 50 crore. These 51 projects aggregate to Rs 941.40 crore, and are expected to generate employment for 4,395 people in Karnataka.

The committee approved three projects with an extra investment of Rs 577.35 crore.

Earlier in October, the Congress government in Karnataka decided to conduct a review of the projects approved during the BJP regime and the ones that are yet to be started. The decision was taken during a meeting chaired by Chief Minister Siddaramaiah.

The finances required for the approved works are over three times more than the budget chalked out during the previous government and the pending bill amount has significantly increased.

Courtesy: India Today