Bengaluru, Sept 2: The State High Level Clearance Committee (HLCC) headed by Chief Minister Siddaramaiah has cleared four projects with a total investment of Rs 3,596 crore, which is said to create employment for 3,842 persons, Major Industries Minister R V Deshpande said on Friday.
The investments are in the automobile, chemical, service and textile sectors. TVS Motor Company Ltd, Bengaluru, will be expanding its two wheeler manufacturing project on the existing 20 acres allotted by Karnataka Industrial Areas Development Board (KIADB) at Bythahalli village, Kadakola post, Mysuru. The company will be investing Rs 1,110 crore for this purpose, he told reporters.
Mangalore Refinery and Petrochemicals Ltd, Mangaluru will be setting up a 2G Ethanol plant on 50 acres of KIADB land in Hanagawadi Industrial area, Harihara, Davangere. The company will be investing Rs 966 crore and creating 71 jobs.
Ikea India Pvt Ltd, Bengaluru will be setting up its single brand retail home furnishing store on 10.11 acres of leased land of BMRCL at Nagasandra village, Yeshwanthpur hobli, Bengaluru. The company is investing Rs 810 crore and creating 1,050 jobs.
Shahi Exports Pvt Ltd, Bengaluru will be setting up a textile weaving, processing and printing unit on 33.17 acres of existing land in Nidige KIADB Industrial area, Shivamogga, at an investment of Rs 710 crore. It is said to create 2,440 crore jobs.
Deshpande said that though Karnataka was attracting investments, the manufacturing sector had taken a hit post demonetisation. “Despite Karnataka having a good eco-system and human resource, the manufacturing sector is suffering as there is no demand. We would have given better results if there was no demonetisation,” the minister said.
Slamming the Narendra Modi government for introducing demonetisation without proper planning, Deshpande said that it had shattered the economy and dashed the hopes of several young job aspirants.
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