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Various companies made investment proposals worth ₹11,946 crore in ‘Invest Dakshina Kannada 2016’ meet in Mangaluru on Tuesday.
‘Invest Dakshina Kannada 2016’ was conducted as part of the ‘Invest Karnataka 2016 Global Investors Meet’, which is scheduled to be held in Bengaluru from February 4-6.
MRPL projectsA major portion of the investment is from the public sector Mangalore Refinery and Petrochemicals Ltd (MRPL).
On various previous occasions, the company had announced its plans to set up an LNG terminal near New Mangalore Port, to upgrade its plant to meet the requirements of Euro 6 standard, and to expand the capacity from the existing 15 million tonnes per annum (MTPA) to 18 MTPA.
The organisers of ‘Invest Dakshina Kannada 2016’ have included these three plans in the proposed investments in the region. These three plans put together are likely to attract an investment of around ₹10,000 crore to the region.
Syngene proposalThe next major investment proposal is from Syngene International, a subsidiary of Biocon Ltd. The company wants to invest around ₹600 crore on an area of 40 acres of land in Mangaluru.
Ruchi Soya Industries will invest around ₹350 crore in the expansion of its plant in Mangaluru.
NRI businessman BR Shetty will invest ₹250 crore each in pharmaceutical industry and in wellness and boat club facilities in Mangaluru.
The figures provided by the organisers show an investment of ₹110 crore by Sri Anagha Refineries Pvt Ltd in a refinery for edible oil. Indian Oil Corporation Ltd has envisaged an investment of ₹100 crore in the LPG bottling unit in Mangaluru.
‘Invest Dakshina Kannada 2016’ was jointly organised by the Karnataka Department of Industries, Dakshina Kannada district administration, and the Dakshina Kannada District Industries Centre.
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