Govt clears investments worth ₹34k cr, to generate 48k jobs

The project proposals were cleared in the 59th state high-level clearance committee (SHLCC) chaired by chief minister Basavaraj Bommai in Bengaluru.

The Karnataka government on Friday said it had cleared 18 big-ticket projects valued at ₹34,432 crore and potential to create 48,850 jobs.

The project proposals were cleared in the 59th state high-level clearance committee (SHLCC) chaired by chief minister Basavaraj Bommai in Bengaluru.

“The high-level clearance committee has considered and approved 8 new projects and 10 additional investment projects that are expected to further push the industrial growth and generate direct and indirect employment opportunities in Karnataka,” the industries department said in a statement.

The project clearances come a day after union home minister Amit Shah met industries minister and department officials over the progress of investments coming into the state along with other political updates as the BJP will defend its term in office in the 2023 assembly election.

Among the projects cleared in the SHLCC meeting, Trualt Bioenergy Limited has proposed to put up an Ethanol Plant of 2,000 KLPD capacity with an investment of ₹1,856.47 crore and Japanese carmaker, Toyota Kirloskar Motor Private Limited has proposed to expand its existing portfolio to include Hybrid technology vehicles along with ICE Vehicles with an investment of ₹3,661.5 crore.

The other investments include ₹977 crore by Carl Zeiss India (Bangalore) Pvt Ltd, ₹2,500 crore by Prakash Sponge Iron and Private Limited for an integrated steel 0.2 MMTPA.

Bommai also met Vedanta Resources Ltd chairman Anil Agarwal in Bengaluru on Friday.