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Karnataka draws in investment worth over Rs 27,000 cr since March 2020

Wednesday, 05 Aug 2020
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The government of Karnataka has attracted investments worth Rs 27,107.39 crore since March 2020 from new projects and expansion plans of the existing facilities which could generate around 46,000 jobs in the state.

This includes approvals of around 37 projects in July 2020 by the Land Audit Committee valued at Rs 1,981.4 crore that will generate nearly 4,000 jobs.

Around 85 projects valued at Rs 6,136.97 crore with potential to create 31,648 jobs were approved by the State Level Single Window Clearance Committee (SLSWCC).

Another 16 projects valued at Rs 18,989.02 crore with potential of creating over 10,000 jobs were approved by the State High Level Clearance Committee (SHLCC).

Among the big ticket projects were the Rs 13,026 crore investments by JSW Vijayanagar Metallics to set up a facility for hot metal, pig iron, crude steel and hot rolled coils facility in mineral-rich district of Ballari.

Siemens Healthcare has proposed to set up a research and experimental development services centre in Bengaluru at the cost of Rs 1,085.30 crore.

Tata Consultancy Services has proposed to set up a special economic zone IT/ITeS with an investment of Rs 495 crore in an area of 38.29 acre of land in Dakshina Kannada district.

Several other IT parks and SEZs have been approved in and around India’s technology capital Bengaluru, and other parts of the state.

Sap Labs India has proposed a software development facility with an investment of Rs 499 crore at the high-tech Defence and Aerospace Park (IT Sector) in the outskirts of Bengaluru. Enhancement of the project will cost from Rs 490 crore to Rs 1,000 crore in next five years in a phased manner.


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