The State High-Level Clearance Committee (SHLCC) of the government under the chairmanship of Chief Minister Basavaraj Bommai met in Bengaluru and gave the clearance for the investment proposals.

Toyota Kirloskar Motor board
news Investment Saturday, August 06, 2022 - 10:48

The Karnataka government on Friday approved 18 industrial projects worth Rs 34,432.46 crore that is expected to generate jobs for over 48,000 people in the state. The State High-Level Clearance Committee (SHLCC) of the government under the chairmanship of Chief Minister Basavaraj Bommai met in Bengaluru and gave the clearance for the investment proposals. The meeting was attended by senior ministers and officials.

Among the projects approved are automaker Toyota Kirloskar Motor's plan to invest over Rs 3,600 crore to produce hybrid vehicles along with traditional internal combustion engine (ICE) vehicles at its facility in Bengaluru.

"The High-Level Clearance committee has considered and approved eight new projects and 10 additional investment projects that are expected to further push the industrial growth and generate direct and indirect employment opportunities in Karnataka," an official release said.

Major investment or project proposals approved in today's meeting include -- an ethanol plant of 2,000 KLPD capacity by Trualt Bioenergy Limited, Bengaluru, with an investment of Rs 1,856.47 crore.

Toyota Kirloskar Motor Private Limited with its passenger cars and diversified product profile of hybrid technology vehicles along with ICE vehicles will invest Rs 3,661.5 crore.

Project proposals with additional investment include Applied Materials India Pvt Ltd, Bengaluru for showerheads or capital equipment manufacturing for semiconductors, with an investment of Rs 1,573 crore and Rs 977 crore investment by Carl Zeiss India (Bangalore) Pvt. Ltd.

Also, Rs 2,500.09 crore investment by Prakash Sponge Iron and Private Limited, Bengaluru for an integrated steel plant of 0.2 Million Metric Tonne Per Annum (MMTPA).

Emmvee Photovoltaic Power Private Limited, Bengaluru's investment of Rs 232.15 crore for solar photovoltaic module and solar cells unit; Rs 775.35 crore investment by Shree Renuka Sugars Limited, Belagavi for distillery/ethanol plant; and Chidanand Basaprabhu Kore Sahakari Sakkare Karakhane Niyamit Chikodi, Belagavi's distillery/ethanol plant with an investment of Rs 270.36 crore, were among those cleared by the government.

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