Economy

Karnataka clears 55 projects worth Rs 40,000 cr

Our Bureau Bangalore | Updated on January 26, 2011

55 projects to generate jobs for 1.15 lakh





The High-Level Committee of the Karnataka Government has approved 55 projects with an investment of Rs 39,583 crore. This includes a Rs 500-crore expansion project of Toyota Kirloskar Auto Parts Pvt Ltd in Bidadi, which is slated to manufacture 24,000 units per annum.

A statement issued by the Chief Minister's Office here on Monday said that the projects cleared would generate 1.15 lakh jobs.

The committee, on Monday, also cleared a Rs 595-crore investment proposal by US-based Tyco Electronics Corporation India Pvt Ltd, to manufacture connector cables and other electrical components in Devanahalli Industrial Area.

Target Corporation India Pvt. Ltd, a subsidiary of Target, a Fortune 500 US company, was planning to set up a software & business service centre in Devanahalli Industrial Area with an investment of Rs.300 crore, the statement said.

Mahindra Aerospace Pvt. Ltd would set up an aerospace component manufacturing unit in Narasapura Industrial Area, Kolar district, with an investment of Rs 284 crore.

Indo Nissin, a subsidiary of Nissin Foods, the world's leading noodle manufacturing Japanese company, is setting up a new manufacturing facility in Harohalli Industrial Area, with an investment of Rs.160 crore, a statement issued by the Chief Minister's Office said.

Schneider Electric India Pvt. Ltd. a France based company, manufacturing electronic power gadgets is expanding its project in Attibele Industrial Area, Anekal Taluk, Bangalore Urban District, with an investment of Rs 53 crore.

Pepsico expansion

The statement said that Pepsico India Holdings would expand its project in its own land in Nelamangala Taluk, Bangalore Rural District, with an investment of Rs 55 crore, to manufacture no-alcoholic beverages and other food products. Wipro is expanding their activities in aerospace sector near Bangalore International Airport with an investment of Rs 52 crore, the release said.

KAPCI Coatings India Pvt. Ltd., an Egyptian based company is establishing a paint manufacturing facility in Harohalli Industrial Area with an investment of Rs 55 crore. Bando India Pvt. Ltd. a Japan-based company, is establishing a new transmission belt manufacturing plant in Narasapura Industrial Area, Kolar district, with an investment of Rs 99 crore.



Published on January 26, 2011

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