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Karnataka govt clears investment proposals

Monday, 27 Jan 2014
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The government of Karnataka, through the state high level clearance committee, has cleared investment proposals of various companies in the state.


A majority of the proposals are from non-IT sectors, with many companies venturing to set up plants in Mysore, Kolar and Tumkur.


The proposal of Asian Paints to establish a new plant over 125 acre at Mysore has received approval.


The committee has approved the proposal of Toshiba Electric to set up a unit near Tumkur, with an investment of Rs 290 crore, for production of components of transformers and generators. Another Japanese firm, NPR, which intends to establish an auto component producing plant at Narasapur near Kolar, at a cost of Rs 170 crore, has received sanction.


Hero Group's plan to invest Rs 1,700 crore for setting up a manufacturing unit along with 40 vendors at Dharwad has received approval from the committee.


Meanwhile, the state government has planned the partnership summit, scheduled to be held in Bangalore, between 27 January and 29 January.


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