Investments Pour Into Bangalore

The Karnataka government today cleared 55 new investment proposals involving an investment of Rs 39,583 crore with an employment potential of 115,000.


Major investments cleared today includes

• Expansion project of Toyota Kirloskar Auto Parts Pvt Ltd at investment of Rs 500 crore in Bidadi near Bangalore
• Tyco Electronics Corporation India Pvt Ltd, which has proposed to invest Rs 595 crore to manufacture connector cables and other electrical components in Devanahalli industrial area.
• Target Corporation India Pvt Ltd, a subsidiary of the US-based Target, plans to set up a software and business service centre in Devanahalli industrial area for an investment of Rs 300 crore
• Schneider Electric India Pvt Ltd plans to expand its electronic power gadget capacity in Attibele industrial area in Anekal taluk at a cost of Rs 53 crore.
• Wipro, the third largest software exporter, has proposed to set up a unit in aerospace SEZ near the Bangalore international airport at an investment of Rs 52 crore.
• Pepsico India Holdings is expanding its unit to manufacture non-alcoholic beverages and other food products at its existing facility in Nelamangala at Rs 55 crore

The state high level clearance committee (SHLCC) headed by chief minister B S Yeddyurappa cleared these proposals at its 24th meeting here today. Briefing reporters, Murugesh R Nirani, minister for large and medium industries, said, “Most of the new proposals cleared today are expansion projects of many existing industries in the state. The state government will organise the second edition of the Global Investors Meet on June 3 and June 4, 2012, to attract more investments.