Thursday, February 11, 2010

Karnataka bags big deals from Hero Honda, Tata


Bangalore: The state government has firmed up the investment proposal of two-wheeler giant Hero Honda to set up its mega plant in Hubli-Dharwad, and has put the implementation of Tata steel plant in Haveri on fast-track.

The Hero Honda manufacturing plant will come up with an investment of Rs2,000 crore, while the Tata Metaliks plant comes with an investment of Rs15,000 crore. “Both the companies are bringing in big ticket investments,” medium and large industries minister Murugesh Nirani said.

Hero Honda has sought 100 acres of land and identified a suitable site near Hubli-Dharwad. This plant can employ 800 people, he said.

Tata is scheduled to set up a three million tonne per year steel plant in Haveri district where it is looking for a 2,000-acre land. About 10,800 people could get employed once it’s in full swing. The company officials recently scouted the area for a suitable site but the land is yet to be finalised, Nirani said.

World’s second largest optical storage media manufacturing company, Moserbaer, too, has come forward to set up a 50mw grid-connected solar photovoltaic project with an investment of Rs850 crore in Chikkaballapur district.

On January 5, 2010, a high-power committee approved 38 projects; a total investment of Rs1.38 lakh crore. Among them, steel giant Arcelor Mittal, decided to set up a Rs30,000 crore six million tonne mega steel plant in the first phase at a 4,000-acre land in Toranagal in Bellary district. The company has paid Rs60 crore to Karnataka industrial area development board for land acquisition, Nirani said.

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