May 23, 2024


Truth Triumphs

SHLCC approves investment proposals worth Rs.11,495 cr

Potential of creating over 47,000 jobs

The 58th State High Level Clearance Committee clears 5 new projects

Industrial projects expected to generate job opportunities for 46,984 persons

Bengaluru, April 18: In a massive push to industrial growth, the State High Level Clearance Committee (SHLCC) on Monday approved a slew of industrial projects worth Rs 11,495.4 crore that would generate jobs for over 46,984 persons in the State. This includes Rs 6,000 crore investment from the Exide Industries, which will set up India’s largest Lithium-Ion cell manufacturing Giga factories for Advanced Cell Chemistry Technology near Bengaluru airport and expected to generate 1200-1400 jobs. The 58th SHLCC meeting held at Vidhana Soudha under the chairmanship of Chief Minister Basavaraj Bommai and vice chairmanship of Large and Medium Scale Industries Murugesh R Nirani cleared the projects.

The High Level Clearance committee has considered and approved 5 new projects and 4 additional investment projects that are expected to further push the industrial growth and generate huge direct and indirect employment opportunities in the State.

Seeking to dispel the notion that the State of Karnataka would lose investments owing to some extraneous factors and apprehensions raised in some quarters, Large and Medium Industries Minister Murugesh Nirani said that the massive investment proposals approved by the government shows the position of Karnataka as a preferred destination for investors.

“These industrial projects have the potential to generate nearly one lakh jobs in the State. Our government has been giving preference to investment proposals that have the potential to create jobs. Our policies, pro-active steps and the prevailing business ecosystem are encouraging investors to invest in Karnataka. The investor-friendly atmosphere in the state in not available anywhere in the country,” Nirani said.

Among the investments approved are
M/s Exide Energy Solutions Limited – Rs 6,002 crore investment in Lithium-Ion cell manufacturing Giga factories at Phase-2 of Hi-tech Defence and Aerospace Park near Bengaluru International Airport with the potential of creating over 1400 jobs.

M/s Nsure Reliable Power Solutions Private Limited – Rs 1,050 crore investment in Lithium-Ion cell manufacturing near Malur in Kolar with employment potential for 450 persons

Rs 679.51 crore project by M/s JSW Renewable Energy (Vijayanagar) Limited to generate 130 MW Hydro power with employment potential for 65 persons

Rs 530 crore investment by Web Works India Pvt. Ltd to open Data Services Centre at KR Puram in Bengaluru with job creation for 69 people

Rs 2,231 crore investment by M/s Tetrarch Developers Limited in social infrastructure activities at Phase-2 of Hi-tech Defence and Aerospace Park near Bengaluru airport with employment potential for 45000 people.

Additional investment proposals cleared in the meeting are

Rs 471 crore investment by M/s ACC Ltd in limestone mining in Kalaburagi

Rs 280 crore investment by M/s Goodrich Aerospace Services Pvt Ltd in aircraft system at Aerospace SEZ near Bengaluru airport

Rs 242.89 crore investment in cement and thermal power plants by M/s JK Cements Works at Bagalkot

Rs 9 crore investment by M/s CV Projects Pvt Ltd in infrastructure for IT SEZ at Yelahanka.

Chief Secretary to Government, Additional Chief Secretary, Department of Industries and Commerce and senior officials of various departments attended the 58th State High Level Clearance Committee meeting.

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