Union Finance Minister Arun Jaitley on Wednesday inaugurated the three-day long Global Investors Meet named Invest Karnataka-2016, at the palace grounds in Bengaluru.
Speaking at the event, for which over 5000 delegates have registered, Mr. Jaitley said Karnataka has the needed human and institutional resources to grow faster than India.
State Industry Minister R.V. Despande in his welcome address mentioned Karnataka was the first in the country to bring start up policy.
The State government’s global investors’ meet received a thumbs-up from the Centre on Tuesday, which has assured all help to make it a success.
"Organising the GIM is a good move," Union Urban Development Minister M. Venkaiah Naidu told reporters in Bengaluru on Tuesday, while maintaining that: "it is not possible to manage everything with local investments. We need global investments to cater to the needs of various sectors."
Fertilizer plant in north Karnataka
Chief Minister Siddaramaiah on Wednesday said the State government will provide 500 acres for setting up a fertilizer (urea) plant in north Karnataka and 100 acres for establishment of a centre of the National Institute of Pharmaceutical Education and Research (NIPER) either in Mysuru or Mangaluru.
Making the announcement at the opening day of the ‘Invest-Karnataka-2016’ Global Investors Meet here, the Chief Minister said five acres would be granted for establishing an R&D centre of the Central Institute of Plastics Engineering& Technology in Bengaluru.
Responding to the demands of allotment of lands for the urea factory made by Union Minister for Chemicals and Fertilizers Ananth Kumar, Mr Siddaramaiah aid 500 acres would be allocated for urea factory in one of the four districts – Vijayapura, Bagalkote, Dharwad and Raichur – in north Karnataka.
“We will provide whatever the quantity of land required to set up the plant and other institutions,” Mr. Siddaramaiah told Mr. Kumar amidst applause from a vast number of delegates representing the industry.
'More than 2,000 km of pipeline across the city'
Later during a meet on laying of gas pipelines in the city, Pankaj Kumar Pal, Chief Executive Officer GAIL Gas Limited, said that 100-km of pipelines had been laid and the company aimed to cover 500 km more next year. Currently, work is being done in HSR Layout, Bellandur, Singasandra, BEL and Agara. Around 35,000 households are expected to be provided pipe gas by next year.
By March, three stations will come up in BMTC bus depots, said Mr. Pal. "BMTC has assured us that 200 CNG buses are being procured. They have also started asking for land (around 4,000 sq.feet) from the public to set up CNG stations across the city," he added. GAIL aims to have 35 stations set up within three years.
The extensive 25 year project will eventually see more than 2,000 km of pipeline across the city. More than Rs. 6,000 crore will be spent on the project, he stated.
Mr. Pal rued the lack of response from the State government towards implementing gas pipelines.
"Two years ago, GAIL had asked the State government to retrofit the Yelahanka power plant, but there has been no response. Similarly, GAIL is waiting for the government to set up the Bidadi plant, which has been stalled after a failed bidder took the Karnataka Power Transmission Corporation to court," said Mr. Pal.
Ambani centre for research announced
Reliance Group Chairman Anil Ambani on Wednesday announced establishment of a Dhirubhai Ambani Centre for Innovation and Research in Aerospace.
Speaking at the ‘Invest Karnataka 2016’ meet here, Mr. Ambani said the proposed centre would be set up under Reliance Defence at Whitefield in Bengaluru.
“I am here today to make a big commitment in that direction by announcing Dhirubhai Ambani Centre for Innovation and Research in Aerospace”. The proposed centre generate more than 1,500 highly skilled jobs and support government’s plan for indigenous design, development and manufacturing of defence equipments, he said.
In Karnataka the Reliance Group so far invested nearly Rs. 5,000 crore across a several sectors, including telecom, energy, entertainment, financial services, said Mr. Ambani.
Stating that fifth generation fighter aircraft and sixth generation technologies are already finding applications, he said “the centre, the first-ever of its kind in the private sector in India, will be a world class facility for research, development and innovation in aerospace technology.”
In tune with the Make India campaign of Prime Minister Narednra Modi, Mr. Ambani said the centre would support the government’s plan to accord the highest priority for indigenous design, development and manufacturing for defence equipment.
