Karnataka clears Rs 26,659 cr worth of investment proposals

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SME Times News Bureau | 22 Dec, 2020
Karnataka cleared five investment proposals worth Rs 26,659 crore, which would create 13,341 jobs, an official said on Monday.

The proposals were cleared at a meeting of the state high level clearance committee under the chairmanship of Chief Minister B.S. Yediyurappa.

The proposals include Elest Ltd investing Rs 14,255 crore to make electrical vehicles in 85 acres at Hubli-Dharwad. The project will create 867 direct jobs.

The company will also invest Rs 6,339 crore in making lithium ion cells and batteries in 88 acres at Hubli-Dharwad. This will create 1,804 jobs.

Hyunet Ltd will invest Rs 1,825 crore to make electric vehicles and lithium batteries in 300 acres of land at Bagepalli in Chikkaballapur district. It will create 2,210 jobs.

Miraculum Green Power Ltd will invest Rs 1,290 crore to set up 110mw hybrid wind solar power project in 700 acres of land at Jagalur in Davangere district. It will create 2,820 jobs.

Sanali Power Ltd will invest Rs 2,950 crore to set up a hybrid wind solar power project at Jagalur in 1,710 acres of land. It will create 5,640 jobs.

Industries Minister Jagadish Shettar, Deputy Chief Minister C.N. Ashwath Narayan, Industries Secretary Gaurav Gupta and officials of the state Udyog Mitra were also present in the meeting.