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State gets massive industrial investment

Karnataka has been receiving massive industrial investment all across the state. This can be clearly evaluated by the investment numbers that the state is seeing. After MRPL and Infosys a few days ago, here is list of new investments that the state is seeing:
l Chairman of Toyota Motors Corporation, Takoshi Uchiyagamada, called on Chief Minister of Karnataka Siddaramaiah at the Vidhana Soudha on Monday and expressed interest to invest in expansion of facilities in Karnataka. He also met Industries Minister RV Deshpande.
l Toyota also expressed its keen interest to showcase its investments in Karnataka and share its experience, in the upcoming INVEST KARNATAKA meet in November.
l In addition, there was an exchange of views on attracting more Japanese investors to Karnataka. Also the ministry extended their support towards manufacturing of hybrid in Karnataka by willing to consider extension of the tax benefits.
l  Himatsingka Group, an integrated textile company, is expanding its manufacturing facilities with an investment of Rs 1,281 crore. The expansion will be carried out at Hassan over the next three years. KIADB will provide the company, land for the expansion.
l Syngene International, contract research arm of biotechnology major Biocon is setting up a new manufacturing plant in Mangalore with an investment of about USD 100 million (over Rs 660 crore).
l Hero Future Energies, one of the leading Independent Power Producers (IPP) in the renewable energy sector in India announced commissioning of a 10 MW solar power project, spread over 50 acres of land in Chitradurga district.
l Hero has cumulatively commissioned 60 MW of renewable energy projects in Karnataka and is looking towards further exciting opportunities for growth in renewable energy space. This project is estimated to generate approximately 17 million units of electricity annually, which is sufficient to light twenty thousand households.
l  Minister R V Deshpande is holding continuous discussions with all stakeholders for solving Amazon’s tax issue.

Infosys to set up 3 new campuses

The State High-Level Clearance Committee (SHLCC), chaired by Chief Minister  Siddaramaiah has cleared 5 projects with a total investment of Rs 22,155 crore.
l IT Major Infosys will set up 3 new campuses in Bengaluru with an investment of Rs. 1918 crore. This will create 27,000 jobs directly and scores more indirectly.
l Mangalore Refinery and Petrochemicals Ltd. (MRPL) will invest Rs. 20000 crore in Mangaluru.
l Anthem Biosciences will set up a plant in Ramanagara with an investment of Rs. 235 crores.
l In 2014-15, the Government had cleared 108 projects with an investment of Rs 54,433 crore.
l In 2013-14, the government had cleared 255 projects involving an investment of Rs 42,176 crore.
l Industries Minister R V Deshpande, Chief Secretary Kaushik Mukherjee, Additional Chief Secretary Rathnaprabha and others were present during the meeting.

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