Financial Daily from THE HINDU group of publications
Wednesday, Jun 08, 2005
Financial Daily from THE HINDU group of publications Wednesday, Jun 08, 2005 |
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Corporate
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New Projects Industry & Economy - Economy Government - Policy Karnataka clears projects worth Rs 14,000 cr Our Bureau
Bangalore, June 7 THE Karnataka Government has cleared projects worth Rs 14,000 crore which will create employment for one lakh people. The State Industries' Minister, Mr P.G.R. Sindhia, told newspersons on Tuesday that the State Cabinet cleared these projects at a meeting on Monday. Some of these projects include Ispat's Rs 7,144-crore steel project, MSPL's iron ore pellet and integrated steel plant project worth Rs 2,292 crore and Wipro's Rs 100-crore project for setting up a software services and BPO centre. The other projects are Kirloskar Ferrous Industries' integrated steel plant worth Rs 543 crore and i-flex Solutions' project worth Rs 300 crore at high-tech city near Sarjapur. Ispat plans to set up 28 lakh MTPA plant on 2,500 acres in Raichur district while Kirloskar Ferrous plans to set up an integrated steel plant near Koppal. The capacity of the project will be around 5 lakh MTPA. Bharati Shipyard has also received permission to set up a ship-building yard near Old Mangalore Port on 25 acres at Thannirbhavi village. The cost of the project is around Rs 95 crore. L&T has also received permission to set up a software development centre at Mysore, which will be set up at a cost of Rs 92 crore. Shyamraju & Company has been given clearance to set up a software development centre at Bangalore with the project cost expected to be over Rs 300 crore. The project is expected to generate employment opportunities to about 15,000 professionals over a period of five years. It proposes to build nearly 22-lakh sq.ft of IT workplace in this facility. Mr Sindhia said during 2004-05, projects worth Rs 35,000 crore were cleared. The Government plans to set up three more special economic zones in the State. He said exports from the State rose to Rs 45,000 crore during 2004-05 from Rs 30,000 crore in 2003-04.
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