Karnataka approves 2 projects with over Rs 550 crore investment

BENGALURU: The State High Level Clearance Committee, headed by Karnataka Chief Minister Siddaramaiah, has approved two projects with an investment of Rs 558.72 crore.

The projects are expected to create employment for 932 persons.

The two projects were approved by the 40th State High Level Clearance Committee in a meeting today, Chief Minister's office said in a statement.

One of the approved projects is for textile project at Tumkur with an investment of Rs 410 crore by Toyota Industries India Private Ltd to manufacture textile machines near Vasanthanarasapura that is expected to generate employment for about 800 people.

The other is for a steel project in Bellary with an investment of about Rs 148.72 crore by Ecomaister Beads India Pvt Ltd to set up a unit to manufacture slag ball near Toranagal, with an employment for about 132 people.

In 2013-14, the committee approved 255 projects with an investment of Rs 42,176.54 crore, generating employment for 1,71,451 persons.

During 2014-15, it approved 108 projects with an investment of Rs 54,433.01 crore, generating employment for 56,101 persons, the statement said.

During 2015-16 so far, the committee has approved 78 projects with an investment of Rs 24,018.99 crore, generating employment for 16,328 persons.