Investment proposals worth over Rs 9,900 cleared by Karnataka government

BANGALORE: Investment proposals worth Rs 9,912.24 crore were approved today by Karnataka high-level committee.

The biggest proposal of Rs 6,306 crore is from Sandur Manganese and Iron Ore Mines Ltd.

The committee presided over by Chief Minister Siddaramaiah gave clearance to the proposals at a meeting here, an official statement said.

Other proposals cleared included Deerfield Logistics Pvt. Ltd (Rs 1,000 crore), Kings Wood Decor Pvt. Ltd. (Rs 703.78 crore), Toyota Auto Parts (Rs 250 crore)and Micro Labs Ltd (Rs 200 crore).

The proposed projects are expected to generate 5,986 jobs, it said.

Sectorwise the proposals include automobiles Rs 355.6 crore, food based Rs 45 crore, infrastructure Rs 1,445.5 crore, iron and steel Rs 6,306 crore, others Rs 703.78 crore, pharmaceuticals Rs 200 crore and sugar Rs 856.36 crore.