Karnataka clears 55 investment plans
Monday, January 31, 2011

Our Bengaluru Bureau

The Karnataka state high level clearance committee (SHLCC) headed by chief minister B S Yeddyurappa, cleared 55 new investment proposals entailing an investment of Rs 39,583 crore and having employment potential for 115,000 persons in the state. Major investments includes the expansion project of Toyota Kirloskar Auto Parts costing Rs 500 crore in Bidadi, Tyco Electronics Corporation India proposal to invest Rs 595 crore to manufacture connector cables and other electrical components in Devanahalli industrial area.

Among other projects, Indo Nissin has proposed to set up a noodles producing plant in Harohalli at investment of Rs 160 crore. Mahindra Aerospace will set up aerospace component manufacturing unit in Narasapura at an investment of Rs 284 crore. Target Corporation India plans to set up a software and business service centre in Devanahalli for an investment of Rs 300 crore. Schneider Electric India plans to expand its electronic power gadget capacity in Attibele at a cost of Rs 53 crore.

Pepsico India Holdings will expand its non-alcoholic beverages and other food products at its existing facility in Nelamangala at Rs 55 crore, while Wipro, the third largest software exporter, has proposed to set up a unit in aerospace SEZ near the Bangalore international airport at an investment of Rs 52 crore. KAPCI Coatings India, an Egypt-based company is establishing a paint manufacturing company in Harohalli Industrial Area for an investment of Rs 55 crore. Bando India a Japanese company has shown interest in establishing a new transmission belt manufacturing plant in Narasapura Industrial Area in Kolar district with an investment of Rs 99 crore.