State high-level clearance committee approves Rs 11,495.4-cr investment projects

The State High-level Clearance Committee on Monday approved investment projects worth Rs 11,495.4 crore.

“I am very happy to announce that in today’s 58th meeting of State High-level Clearance Committee, we have approved five new projects and four additional investment projects with a total investment of Rs. 11,495.4 crore which creates employment for about 46,984 people,” Karnataka Chief Minister Basavaraj Bommai said in a statement after chairing the HLCC meeting at Vidhana Soudha.

The investment projects include Rs 6,002-crore investment from Exide Industries, which will set up the country's largest lithium-ion cell manufacturing giga factories for advanced cell chemistry technology near Bengaluru airport and expected to generate 1,200 to 1,400 jobs, said a statement issued by the office of Large and Medium Scale Industries Minister Murugesh R Nirani.

Nsure Reliable Power Solutions Private Limited will set up the lithium-ion cell at Malur in Kolar district, JSW Renewable Energy (Vijayanagar) Ltd closed loop pumped storage project to generate 130 MW hydro power in Vidyanagar in Ballari district and Web Werks India Pvt Ltd will set up data centre service.

Tetrarch Developers Limited will set up “Multi-Sector Industrial Park, Aerospace, Defence, Data Centres, Electronics, Hi-tech, Logistics, Housing and other social infrastructure Activities”at Devanahalli in Bengaluru.

Additional investment proposals cleared in the meeting are ACC Ltd in limestone mining in Kalaburagi, Goodrich Aerospace Services Pvt Ltd in aircraft system at Aerospace SEZ near Bengaluru airport, cement and thermal power plants by JK Cements Works at Bagalkot and CV Projects Pvt Ltd to invest in infrastructure for IT SEZ at Yelahanka.