The Hindu Business Line : Karnataka panel clears proposals worth Rs 5,554 cr

A RS 925-crore gem and jewellery industrial park and Biocon India's expansion and new joint venture projects figure among the nine new mega investment proposals cleared by the high-level committee under the State Industry Ministry.

The Industry Minister, Mr R.V. Deshpande, said the plans would bring in additional investment of Rs 5,554.25 crore into the State.

Sound Craft Industries has proposed to set up two gem and jewellery manufacturing and trading zones near Devanahalli at Bangalore.

It has also sought SEZ status for the second zone and the State Government would forward the proposal to the Centre, Mr Deshpande said.

South West Iron & Steel Ltd is setting up a Rs 3,206-crore integrated steel plant and co-generation plant at Torangal near Bellary. JSW Power has proposed a 100-mw coal-based power plant estimated at Rs 229 crore, also at Bellary and Eco Coke & Power plans to invest Rs 160 crore in a metallurgical coke & cogeneration plant.

Biocon alone plans to put in Rs 360 crore to create additional export-oriented capacity to manufacture three stations. It is taking 45 acres of land at Bommasandra near here.

Biocon and its Cuban R&D partner CIMAB plans to set up Biocon Biopharmaceuticals, a Rs 150-crore facility to make monoclonal antibodies used in the treatment of cancers. Biocon will hold 51 per cent of the equity in the unit.

ITPL has received clearance for its Rs 55.1 crore expansion into phase 1C. Among the other proposals are Sobha Innercity Technopolis's IT park at an investment of Rs 400 crore along the IT corridor here; and a Rs 69-crore ITES BPO centre by Comat Technologies outside Bangalore.

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