Investments in Karnataka worth Rs 26k cr cleared

23 Dec 2020 Editorial Team

As many as five projects with an investment potential of Rs 26,659 crore have been cleared by the State High-Level Clearance Committee (SHLCC). When completed, these projects are said to be able to generate employment for 13,341 people.

The investments that were cleared in the 55th SHLCC meeting included the following proposals:

Two proposals by Elest Pvt Ltd in Hubballi-Dharwad — one worth Rs 14,255 crore on 85 acres of land for electric vehicle manufacturing, and the other worth Rs 6,339 crore on 88 acres for battery manufacturing unit and lithium-ion cells.

Employment potential: 2671 jobs ( 867 by the former and 1804 by the latter)

Proposals worth Rs 1,825 crore by Hyunet Pvt Ltd on 300 acres, to be allotted by Karnataka Industrial Areas Development Board in Bagepalli Taluk of Chikkaballapur district for EVs and Li-ion batteries.

Employment potential: 2210 jobs

Investment worth Rs 1290 crore by Miraculum Green Power Pvt Ltd on 700 acres to be taken up on lease at villages in Jagalur Taluk of Davanagere district for setting up a 110 MW hybrid wind-solar power project.

Employment potential: 2820 jobs

Another proposal worth Rs 2950 crore by Sanali Pvt Ltd on 1710 acres at villages in Jagalur Taluk of Davanagere district, also taken on lease for setting up a hybrid wind-solar power project.

Employment potential: 5640 jobs

Investments above Rs 100 crore were cleared by the SHLCC that is led by the Chief Minister, while the projects that were worth between Rs 15 and Rs 100 crore were cleared the State Level Single Window Clearance Committee (SLSWCC), which is chaired by the Minister of Large and Medium Scale Industries.

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