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Karnataka approves projects worth Rs 132 billion

The Karnataka government's high-powered committee has approved 20 projects worth Rs 132.41 billion following the overwhelming response from the global investors' meet, or GIM, held in Bangalore recently.

Briefing newspersons after the committee meeting, state Industry Minister R V Deshpande said Aditya Vikram Birla's Grasim Industries would be investing Rs 22.49 billion to set up a power generation unit to produce 448 mw in the state. Yet another major investment of Rs 20 billion will be from Jindal Tractabel Power to set up a project at Bellary to generate 500 mw of power.

The first ever major wind energy project, at a cost of Rs 13.75 billion, would be set in different parts of the state by Enercon India Limited to generate 251 mw. The company would set up wind units at Belgaum, Davnagere, Chikamagalur and Chitradurga.

A coke-based project to produce 48 mw of power in Raichur at a cost of Rs 5.73 billion was approved in favour of Hampi Petro Chemicals.

ACC Limited, the leading Tata Group cement giant and subsidiary Cement Marketing Company of India will be setting up two separate projects near Wadi and Bellary at a cost of Rs 4.05 billion and Rs 1.35 billion, respectively.

The US-based Enron India will be investing in two projects, one for laying optic fibre cables at a cost of Rs 6 billion and the other for setting up a data centre at a cost of Rs 3 billion. The data centre would be the first ever in southern India after its Bombay unit.

The committee also cleared two more projects in the area of fibre optics. Zee Telefilms Limited will invest Rs 7 billion for a hybrid fibre optic network besides setting up a high tech studio here.

Bharti Mobile will be investing Rs 1 billion to lay 2,220-km of fibre optics in two phases in the state.

Among the projects cleared were two sugar factories -- one at Belgaum with an investment of Rs 1.56 billion from Haripriya Sugar to produce 5000 tcd sugar and the other at Mandya at a cost of Rs 1 billion by Chamundishwari Sugar.

Chennai-based TVS Suzuki will be investing Rs 4.50 billion to produce motorcycles and mopeds near Mysore. A product to produce CD ROMs near Bangalore by the India Media Vally at a cost of Rs 1.12 billion was also cleared. A sunflower oil refining plant would be coming up at Bagalkot to be commissioned by Dupkit Limited at a cost of Rs 2.40 billion.

UNI

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