Karnataka govt to borrow Rs 5,000 cr to develop industrial areas, says state minister MB Patil

Bengaluru: Industries Minister MB Patil on Thursday said the government planned to borrow Rs 5000 crore to provide infrastructure at the new industrial areas including laying of water supply lines.

Many of the industrial areas lack infrastructure, especially dedicated water supply systems. The government wants to find a solution to this issue and has been in consideration with the finance department, the minister said, speaking at Innoverge, organised by CII in the city.

The dedicated water supply lines need an investment of about Rs 2,000 crore. Other purposes such as land acquisition and development of industrial suburbs need an investment of about Rs 3000 crore, he added.


Startup Parks:
The government has identified a plot in Bengaluru for building a modern startup park, Patil said.

The government has also directed officials to identify suitable plots for building a tech park in Belagavi, which would focus on the med-tech sector, the minister said.

The government had been focussing on building a skilled workforce in emerging sectors to reap the benefits of industrial growth.