Bangalore March 18, 2008: Karnataka's High Level Clearance Committee today approved 28 proposals to set up new industries involving an investment of Rs 49,054.89 crore.
The areas of investment are in IT, cement, steel, education and electronics, a release by the Governor's Secretariat said.
The industrial units after commissioning would generate employment to 4.19 lakh people, the release said.
The investments are being made in tier II cities, including Hiriyur, Gulbarga, Mysore, Mangalore, Muddebihal, Gamanagatti, Hospet, Hassan, Afzalpur, Yadgir, Kunigal, Koppal, Sandur, Haveri in addition to some in Bangalore rural district.
The projects included an airport-based multi-product special economic zone at an investment of Rs 3,384.65 crore to be established by the Bangalore International Airport Ltd, which has built the new airport in Devanahally here.
Limitless Properties Ltd has got the approval for setting up a multi-product SEZ in Hiriyur in Chitradurga district at an investment of Rs 4,164.40 crore.
R M Steels Ltd will be setting up a Rs 15,700 crore integrated steel plant in Koppal while XINDIA Steels a similar plant in the same district with an investment of Rs 8,735 crore, the release said.