To attract investments in the border district of Chamarajangar, Karnataka Government has decided to develop a new industrial park on 1,595 acres.
Chief Minister Siddaramaiah will lay the foundation stone for the park on June 23 in the presence of industrial leaders of Karnataka and Tamil Nadu.
Addressing presspersons here on Thursday, Minister for Cooperation and Sugar Mahadeva Prasad, who is also In-Charge of Chamarajangar district, said about 300 investors had shown interest to invest Rs. 12,000 crore during the road-show conducted by the State Government in association with Coimbatore District Industrial Association and Federation of Karnataka Chambers of Commerce and Industry (FKCCI) about 18 months ago.
About Rs. 400 crore would be spent on creating infrastructure such as roads, water, power and drainage. Already notification has been issued to acquire 1595 acres in Badanaguppe and Kellamballi villages of the district. Of the total 1595 acres, 1200 acres is private and 394.20 acres government lands.
A sum of Rs. 175 crore had been spent for providing compensation for farmers whose lands had been acquired. Compensation of Rs. 20 lakh per acre has been paid.
Most of the entrepreneurs in granite, textiles, leather, automobile, and agro and food processing business have shown interest to invest in the park, Mr. Prasad said.
