State High Level Clearance Committee, Karnataka, on 29 March 2010, cleared 34 investment proposals amounting to Rs 94,000 crore.

Among the proposals cleared are four cement units, four power plants, one IT and ITES SEZ, a logistics park, steel plants, engineering units, rubber products and sugar factory. The formal MoU for the proposed projects is likely to be signed with the promoters in June 2010.

The committee has cleared a proposal from Coca Cola to set up its third bottling plant in the state at an investment of Rs 107 crore. The project may require 36.89 acre in the Bidadi Industrial Area.

A proposal of Moserbaer to set up a 50 MW solar photo voltaic power project at an investment of Rs 1,000 crore in Chikkaballapur district has been approved.

Further, a proposal by Nirani Sugars to augment its crushing capacity from 10,000 to 15,000 tccpd has been cleared. Nirani Sugars also proposes to increase its cogeneration capacity from 62 to 67 MW at its unit in Mudhol in Bagalkot district. While the promoters are likely to bring in 10 per cent of the cost, 30 per cent will be from the Sugar Development Fund. The promoters hope to raise the remaining amount as term loans from financial institutions.

Among others, Easun Reyrolle has come forward to set up electrical switchgears plant in Harohalli Industrial Area, StarragHeckert for aerospace components in Devanahalli Aerospace Industrial Area, Tokai Rubber Auto-Parts for automotive components in Harohalli Industrial Area and Fowler Westrup India for agriculture products processing machineries in Malur, Kolar district.

Surya Roshini is likely to start CFL bulbs, energy efficient tube light and LED lamps, GI Pipes and Steel ERW Black Pipes manufacturing unit in Shimoga district.

Also, Gujarat Ambuja Exports is likely to set up maize starch plant in Shiggaon taluk, Haveri district with an investment of Rs 100 crore.

Industrial Finance Corporation of India has proposed to establish a financial city near Devanahalli Industrial Area with an investment of Rs 1,000 crore. Just Dial will be setting up IT/ITES BPO and software development center at Devanahalli Industrial Area with an investment of Rs 450 crore.