Bangalore: By approving investment proposals worth Rs 44,000 crores through the state high-level clearance committee, Chief Minister Siddaramaiah has countered criticism that he is opÂÂposed to industrial deÂveÂlopment.
InÂterestingly, a majority of the proposals are from non-IT sectors with many coÂmpanies venturing to set up plants in Mysore, Kolar and Tumkur, not Bangalore.
Asian Paints plans to eÂstablish its biggest plant in Mysore, the home distrÂict of Siddaramaiah, wiÂth the high-level commÂittee approving 125 acres for the project, according to additional chief secretary, M.N. VidÂyashankar.
Another big-ticket company—Toshiba Electric—plÂans to set up shop near TuÂmkur with an investment of Rs 290 crore for prÂÂoduction of componeÂnts of transformers and geÂnerators.
Another JaÂpanese firm, NPR, intends to establish an auto-coÂmpoÂnent producing plant at Narasapur near Kolar at a cost of Rs 170 crore. Hero Group, the two-wheeler major would construct a manufacturing unÂit along with 40 vendors at Dharwad with an inÂvestment of Rs 1700 crore, Vidyashankar added.
Meanwhile, Chief MiÂnister Siddaramaiah told media persons that the paÂrtnership summit, scheduled to be held in Bangalore between January 27 and 29, would be the precursor for Global InÂvestors Meet (GIM) scheduÂled later this year.
“ReÂpresentatives frÂom ovÂer 40 countries are coming to the city. We would like to showcase Karnataka. Our main aim is to attract inÂvestments for tier-II and tier-III cities,” he said adÂding that the government would provide adequate power and water to new industries.
