Karnataka approved investment proposals worth INR 26,659 crore
In the 55th SHLCC meeting, investments proposal clearance for 5 projects were given that together worth INR 26,659 crore and has the potential to generate employment for 13000 people.
Karnataka approves five projects with a total investment potential of INR 26,659 crore at the meeting of State High-Level Committee on Clearance (SHLCC) that was held on 21 December 2020. These five projects are expected to generate together employment for more than 13000 people
The meeting was chaired by the Karnataka State Chief Minister B S Yediyurappa. Also present at the SHLCC meeting were Minister of Large and Medium Industries Jagdish Shettar, Deputy Chief Ministers Ashwat Narayan, Gaurav Gupta, Principal Secretary – Department of Commerce and Industry, and other senior officials.
The investment proposals that were approved at the 55th SHLCC meeting, includes two proposals from Elest Private Limited along with one project each by Hyunet Private Limited, Miraculum Green Power Pvt Ltd, and Sanali Power Pvt Ltd.
Of the two projects by Elest Private Ltd, the first project is to be developed at 85 acres with an investment of INR 14,255 crore is for electric vehicle (EV) manufacturing. This project has the potential to generate an employment opportunity for around 867 people.
While, the second one is for lithium-ion cells and battery manufacturing unit at an investment of INR 6,339 crore to be developed on 88 acres, and can create 1,804 jobs.
The project proposals by Huinet Pvt Ltd of Rs 1,825 crore is for lithium battery and electric vehicles to be developed on 300 acres of land. The land is to be allotted by Karnataka Industrial Area Development Board in Bagepalli taluk of Chikkaballapur district. The project can create around 2,210 jobs.
While the project clearance for Miraculum Green Power Pvt Ltd at an investment of INR 1,290 crore is for setting up a 110 MW wind-solar hybrid power project on 700 acres of land which will be taken on lease in Jagalur Taluk in the district of Davengere. The project has the potential to generate around 2,820 jobs.
Another project for wind-solar hybrid power project at an investment of INR 2,950 crore by Sanjali Power Private Limited was approved at the meeting. This project is to be developed on 1,710 acres of land that is also be taken on lease at the village in Jagalur Taluk of Davengere district. The project is expected to provide employment to around 5,640 people.
Projects with an investment of more than INR 100 crores are cleared by the SHLCC. While the projects with an investment of INR 15 to 100 crores are approved by the State Level Single Window Clearance Committee (SLSWCC), under the chairmanship of the Minister of Large and Medium Industries.
