Karnataka clears Rs 18,430 crore investments; over 15,000 jobs likely

Karnataka Chief Minister Siddaramaiah on Monday said investment proposals worth a total of Rs 18,430.44 crore have been approved, which are expected to generate employment for over 15,000 people.

The approvals were granted at the 67th meeting of the State High-Level Clearance Committee, chaired by Siddaramaiah.

Speaking after the meeting held at his official residence, Krishna, the CM said approval was granted to a total of 17 project proposals, including 11 new investment proposals and six expansion proposals.

He said the 11 new proposals would bring in investments worth Rs 14,906.9 crore across various districts of the state and are expected to create around 13,050 jobs.

According to a statement issued by the CMO, the major new projects approved include investments by companies such as River Mobility Private Limited (Rs 1,028 crore) in Kolar in the EV and automobile sector, Genx PV India Pvt Ltd (Rs 1,000 crore) in Chikkaballapura in the solar sector, and Aerostructures Manufacturing India Private Limited (Rs 1,356 crore) in Belagavi in aerospace manufacturing.

Besides this, the six additional investment proposals will bring in Rs 3,523.54 crore across different districts, generating employment for about 1,982 people, it said.

These include projects by companies such as Poddar Plumbing System Private Limited, Colortone Textiles Private Limited, Goodrich Aerospace Services Private Limited, MSPL Limited, Wipro Global Engineering and Electronic Materials Private Limited, and Indian Cane Power Ltd, the CMO added.