Karnataka Global Investors meet: Rs 2,000 crore investment! CM out to prove he is industry friendly

Bengaluru: With the state government set to conduct the three-day Global Investors meet (GIM) from November 23-25, the state high level clearance committee has cleared five major investment projects.

Investment projects to the tune of Rs. 2049.75 crore were cleared by the committee headed by Chief Minister Siddaramaiah here on Wednesday. The five projects are expected to generate employment for 3532 people.

The Committee has given its approval for the expansion of M/s Himatsingka Seide Ltd at Hassan with an investment of Rs 1325 crore. Himatsingka produces branded garments. M/s Stelis Bio Pharma Private Limited will set up a plant at Doddaballapura with an investment of Rs 248 crore to produce anti-cancer medicines. M/s Harsha Sugars Limited will set up a sugar plant at Belagavi with an investment of Rs 213 crore, M/s Auric Industries Limited will set up a solar plant at Raichur with investment of Rs 156.25 crore and Cheers Breweries will set up a liquor unit.

The committee approved expansion proposals of three companies with additional investment of Rs 896.47 crore, said Additional Chief Secretary and Principal secretary, Industries K. Ratna Prabha. In 2013-14, the government had approved 255 projects with investment of Rs 54,433 crore to generate employment for 56,101 people.