Karnataka bags big deals from Hero Honda, Tata

Source: http://www.dnaindia.com/bangalore/report_karnataka-bags-big-deals-from-hero-honda-tata_1346309

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.

Karnataka beckons investors

Source: http://www.deccanherald.com/content/49650/karnataka-beckons-investors.html

Five major industrial houses, including Hero Honda, evinced their interests in investing in Karnataka when the state government kick-started its investment road show on Friday.

Karnataka Industry Minister Murugesh Nirani told newsmen that these five companies had, during his interaction with  them, promised to invest Rs 4,645 crore in the state.The projects can generate around 8,000 jobs, he said.

Nirani held a series of meetings with industrialists here as part of the road show ahead of the global investors’ meet in Bangalore in June.

Confident minister
The minister is  confident of clinching a deal with Hero Honda soon. The two-wheeler major, which is looking for setting up its fourth plant in the country,  is interested in setting up a plant at Dharwad or Hubli with an investment of  Rs 2,000 crore.
Nirani said the company has said it will send its technical team for evaluating  the project next month. The company has sought 50 to 100 acres. It  has promised jobs to 800 people directly. And 5,000 people may get  jobs indirectly.  A number of auxiliary units can also come up if  the project is set up.

Nectar Lifesciences is also keen on setting up a plant for manufacturing life-saving drugs with an  investment of Rs 1,500 crore. The proposed plant has the potential to generate 800 jobs. The State government has asked the company to submit a  project report.

Mosarbaer has come forward for setting  up a 50 MW grid-connected solar photo voltaic project with an investment of Rs 850 crore in Chickaballapur district. Kajaria Ceramics plans to set up a unit for manufacturing ceramic tiles with an investment of Rs 150 crore in Belgaum. It has the potential to  provide direct employment to 200 people.

The government has already conducted road shows in many   countries. The Delhi programme is its first in India. Similar shows will be held in Mumbai and Chennai.