Business Daily from THE HINDU group of publications
Monday, Sep 18, 2006
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Business Daily from THE HINDU group of publications Monday, Sep 18, 2006 ePaper |
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Overseas Borrowings States - Karnataka Karnataka banks on investments from US-based cos Our Bureau
On cards TSMC plans new chip unit at Mysore TSI Ventures keen on setting up convention centre Genomic Solutions plans Rs 4,000-cr R&D centre MedWrite plans to set up two centres for Rs 1,500 cr A health city-SEZ near Hoskote
Bangalore , Sept. 17 Genomic Solutions, TSI Ventures and Intel are among the companies keen on fresh landing or expansion in Bangalore. Karnataka expects investments of over Rs 2,000 crore to flow in from these and more US-based companies, according to the Industry Minister, Mr Katta Subrahmanya Naidu, who was part of an official delegation to the US. There were interests from IT, ITES to hardware and medical tourism sectors and representatives of these companies would be visiting the State shortly to explore opportunities for them, Mr Naidu told a news conference. The Minister was in the delegation led by the Deputy Chief Minister, Mr B. S. Yediyurappa, which toured New York, Baltimore, San Francisco and Los Angeles between August 31 and September 10.
New Chip unit
The team made a presentation to a meeting of 150 potential investors. In the IT sector, semiconductor company TSMC has expressed interest in a new chip unit at Mysore. The Santa Clara-based Intel, which has an active $1 billion proposal for India, is keen on bringing large amounts of it into Karnataka. This includes skill development centres in two districts in partnership with the state government. It is investing Rs 5,000 crore in software parks in Bangalore and Mysore over the next two years. TSI Ventures - the real estate development joint venture of Tishman Speyer and ICICI Venture - is keen on a convention centre and township and its team is due to visit Bangalore in the coming days. Biotech equipment and services company Genomic Solutions is considering a Rs 4,000-crore R&D centre between Bangalore and Mysore. Health-related writing solutions company MedWrite is also sending a team with a Rs 1,500-crore proposal to set up two centres. A team led by Beverly Hills plastic surgeon, Dr Krishna P. Surapaneni, plans to set up a health city-SEZ near Hoskote. Potential investing agencies that the delegation met include Vedanta Capitals, UCA Global for medical equipment unit; HP and leading German bank Dresdner Kleinwort Wasserstein. On the State's invitation, the New York Governor, Mr George Pataki, would be visiting Bangalore in October and the California counterpart, Mr Arnold Schwarzenegger, was planning a visit next year. Mr Naidu said the State Government was considering appointing prominent NRIs in the US, Europe, East Asia and the Gulf region as its ambassadors to drive investments into the State.
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