Our Bureau

Bangalore, Sept. 22

STRIDES Arcolab and Jubilant Organosys are making two new investments in the State. While Strides is setting up a Rs 48-crore bulk drugs unit in the new Hassan SEZ, the Noida-based Jubilant is investing Rs 46 crore in a pharma and biotech research and development unit in Mysore, the company's first in the State.

These are among 32 investment proposals worth Rs 815.6 crore, which have been cleared by the State's single-window agency, Mr P.G.R. Sindhia, Minister for Industry and Infrastructure, announced on Thursday. Thane-based Vitabiotics (India) is setting up a Rs 19.7-crore formulations plant at Hassan and Star Drugs & Research Labs is investing Rs 12 crore in a drug R&D centre near Bangalore. The pharma proposals alone are worth Rs 125 crore.

Three major hotel projects worth Rs 136 crore were also announced in north Bangalore, where the new international airport is coming up. Among them are the Rs 49.7-crore, five-star Taj Hotels & Resorts promoted by the Hyderabad-based Taj Krishna group; the MSR Hotel (Bangalore) project at Rs 43 crore by the M.S. Ramaiah group; and a four-star hotel at Rs 43 crore by Hanu Technologies & Facilities.

Nine software technology parks by promoters including Parsam Associates and Puravankara; a Rs 22.5-crore new project by medical equipment company Opto Circuits (India) P Ltd; and a new Kannada TV channel promoted by Mr H.D. Kumara Swamy, the son of former Prime Minister, Mr H.D. Deve Gowda, are among the other projects.

(This article was published in the Business Line print edition dated September 23, 2005)
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