18 proposals involving investment of Rs. 13,770 cr. approved

March 05, 2014 12:02 am | Updated May 19, 2016 06:17 am IST - BANGALORE:

The State government on Tuesday approved 18 proposals involving an investment of Rs. 13,770 crore, which are expected to create jobs for 44,726 people.

A State high-level clearance committee (SHLCC) meeting headed by Chief Minister Siddaramaiah approved the proposals. They include three in the iron and steel sector, and two each in the automobile, engineering and infrastructure sectors. The proposal involving the largest investment at Rs. 4,990 crore is in the aerospace sector. It is expected to create jobs for 3,000 people.

Of the 18 proposals, four are for Kolar district, three for Bangalore Rural district, two each for Tumkur and Bellary districts and one each for Bangalore Urban, Chickballapur, Davangere, Dharwad, Hassan, Kolar and Koppal.

After the meeting, Mr. Siddaramaiah said the government was planning to conduct the Global Investors Meet in October this year. “We have initiated the tender process to appoint event management agency and knowledge partner. This event is expected to attract investors from more than 30 countries,” he said.

He said the new industrial policy would be announced soon. The policy aims to make Karnataka the most preferred destination through inclusive, sustainable and balanced growth, he said.

“We have launched e-Udyami portal to facilitate online filing of applications for single window clearance. Such a facility will soon be extended to investors from other stakeholder departments,” Mr. Siddaramaiah said.

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