Bangalore: More than 2,000 delegates are likely to participate in the Global Investors' Meet scheduled for June 3 and 4 in Bangalore, according to a press release issued by the State Government from Chennai, where the Government conducted a road show on Tuesday. The Government is likely to sign pacts for 108 projects that have been cleared by the State High-Level Clearance Committee (SHLCC), each with an investment of more than Rs. 50 crore. In addition, 228 projects that have been cleared by the State-level Single Window Clearance Committee, each with an investment of between Rs. 3 crore and Rs. 50 crore, are likely to materialise.
The total investment in these projects for which MoUs are likely to be signed during the meet amounts to Rs. 2.88 lakh crore. This is expected to generate employment for about 2.8 lakh persons in the State. Another meeting of the SHLCC is likely to be held before the meet, the release stated.
Among the prominent industrialists expected to participate in the event are Lakshmi Mittal of ArcelorMittal, Kumaramangalam Birla of the Aditya Birla Group, Raghupathi Singhania of J.K. Tyres, Vijay Mallya of the UB group and Venu Srinivasan of TVS Motors.
Proposals for investment in energy projects total Rs. 24,215 crore — the highest among all sectors. Proposals for investments in 12 cement plants total Rs. 13,000 crore, which is expected to generate employment for more than 4,500 persons. Investment in chemical projects account for Rs. 4,800 crore.
Bellary district is the most favourable destination for investors in the State, attracting a proposed investment of Rs. 1.66 lakh crore. Bagalkot is next, with proposals for investments amounting to Rs. 32,900 crore.