Karnataka approves investment proposals worth Rs 26659 crore, 13341 people to get jobs
Five projects with a total investment potential of Rs 26,659 crore were approved in a meeting of the State High-Level Sanctioning Committee (SHLCC) chaired by Karnataka Chief Minister BS Yeddyurappa on Monday. This is expected to provide employment to 13,341 people. Among the projects approved in the 55th meeting of the committee, Alast Private Limited includes two proposals.
Under this, an electric vehicle manufacturing plant is to be set up on 85 acres of land in Hubli/Dharwad with a kick of Rs 14,255 crore. This is expected to provide employment to 867 people. The second proposal is to set up a lithium-ion cell and battery manufacturing unit on 88 acres with an investment of Rs 6,339 crore. This is expected to provide employment to 1,804 people. Apart from this, Hyunet Pvt. Ltd. investment proposal of Rs 1,825 crore was also approved.
The company will set up a lithium battery and electric vehicle manufacturing plant in Bagepalli Taluk of Chikkaballapur district. For this, the Karnataka Industrial Area Development Board has allotted 300 acres of land. The project is expected to employ 2,210 people. The committee also approved Miraculum Green Power Pvt. Ltd. An investment proposal of Rs. 1,290 crore has also been approved.
The company will set up a 110 MW capacity hybrid wind-solar power project on 700 acres of land in the villages of Jagalur Taluk in Davangere district. This is expected to provide employment to 2,820 people. Also, Sonali Power Private Limited’s investment proposal of Rs 2,9950 crore has been approved. The company will set upwind, solar power projects on 1,710 acres of land in the villages of Jagalur Taluk in Davangere district. This is expected to provide jobs to 5,640 people.
