The Hindu Business Line : Three IT companies plan expansion in Karnataka coastal region

INFORMATION technology and infrastructure sectors have been able to attract a considerable amount of investment in the recently concluded Coastal Investors' Meet in Karwar.

Apart from the Chief Executive Officer and Managing Director of Infosys Technologies Ltd, Mr Nandan Nilekani, announcing his company's decision to invest Rs 300 crore for the expansion of its Mangalore development centre, two other IT companies are planning to expand activities in the coastal region.

Golden Life Assurance Technologies Ltd of Mumbai is likely to invest Rs 235 crore for setting up a facility for IT education in coastal Karnataka. Robosoft Technologies of Udupi is planning to establish an IT centre at Brahmavar or Manipal in the district with an investment of Rs 10.82 crore. Investment in this sector will boost IT-related activities in the region. The coastal districts of Udupi and Dakshina Kannada have an STPI each, apart from other IT companies.

However, biotechnology is yet to make its debut in the region. Biogenus India Ltd of Nellore in Andhra Pradesh is mulling the establishment of a biotechnology centre in coastal Karnataka with an investment of Rs 100 crore.

There are also plans to cultivate and process medicinal plants for manufacturing herbal extract and dietary supplements. Natural Remedies Pvt Ltd of Bangalore is likely to invest Rs 13 crore and Prakruthi Products of Karwar Rs 4.25 crore in this sector.

To develop port-related infrastructure in the coastal region, the Karnataka Government has signed memoranda of understanding with two companies for facilitating the implementation of projects in this field and issued letters of facilitation (LoF) to two others totalling Rs 645 crore of investment. The Government has signed MoU with Arcadia Shipping Ltd of Mumbai for the development of minor port in Karwar or Malpe with an investment of Rs 75 crore, and Jindal Vijayanagar Steel Ltd of Mumbai for the development of Karwar Port with an investment of Rs 455 crore. Global Oil Industries Ltd of Adoni in Andhra Pradesh is likely to invest Rs 15 crore to develop terminal major port at Tadri in Uttara Kannada district, and Nuziveedu Seeds Ltd of Secunderabad Rs 100 crore for port-based activities in Karwar.

There has also been a proposal for township development in Karwar with an investment of Rs 25 crore by Saraf Foundations Pvt Ltd of Mumbai.

Arbutus Steel Ltd of New Delhi has submitted an expression of interest for investing Rs 375 crore in an integrated steel plant at Mundargi or Ramnagar in Uttara Kannada district or growth centre of Dharwad.

Frontline Corporation Ltd of Ahmedabad has been issued a LoF for setting up a coke oven plant at Achilady in Udupi with an investment of Rs 32 crore.

To produce steel and pig iron and captive coke oven battery, a Rs 356-crore mini-blast furnace is likely to be set up by Chaman Metalics Pvt Ltd of Nagpur at Londa-Khanapur in Belgaum district.

An investment of Rs 2.5 crore is likely for the establishment of granite processing unit in Karwar with Bhasin International being given LoF in this regard.

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