Karnataka CM's panel clears Rs 29,679 crore investment proposals, projects to create 66,360 jobs

Bengaluru: A high-level committee chaired by Chief Minister D K Shivakumar on Wednesday approved nine new investment proposals and eight additional investment proposals involving a total investment of Rs 29,679.20 crore. The projects are expected to create 66,360 jobs across Karnataka.

Mahindra Aerostructures’ proposal to invest Rs 2,300 crore is among the new projects cleared by the committee. The investment is expected to create around 3,000 jobs.

The nine new projects involve investments of Rs 25,710.56 crore and are expected to generate 64,349 jobs. Hero Future Energies accounts for the largest investment among the proposals, with a Rs 9,760 crore project expected to create 3,200 jobs.


Vibrancy Real Estates will invest Rs 2,195.94 crore and is expected to generate 30,000 jobs, while Trualt Bioenergy’s Rs 2,988 crore proposal is projected to create 21,436 jobs.

Other approved projects include Aequs Consumer Products (Rs 1,104 crore; 4,813 jobs), Epsilon Cam (Rs 1,500 crore; 500 jobs), Toyota Kirloskar Motor (Rs 1,200.02 crore; 500 jobs), Nirani Sugars (Rs 4,062.60 crore; 700 jobs) and Lighthouse Canton Alternatives Asset Manager (Rs 600 crore; 200 jobs).

The committee also cleared eight proposals involving additional investments totalling Rs 3,968.64 crore. These include MSPL (Rs 884.25 crore), Nsure Reliable Power Solutions (Rs 250 crore; 135 jobs), Honda Cars India (Rs 437 crore; 220 jobs), Bheema Fine Chemicals (Rs 605.15 crore; 390 jobs), Sansera Engineering (Rs 492.24 crore; 600 jobs), TVS Motor Company (Rs 1,050 crore; 510 jobs) and Havells India (Rs 250 crore). These proposals are expected to create an additional 2,011 jobs.

The approved projects cover sectors including automotive, renewable energy, manufacturing, consumer products, infrastructure and real estate.

Shivakumar directed officials to strengthen scrutiny of project reports before granting industrial licences and make pre-audits of projects mandatory. He asked the Finance Department to constitute a dedicated audit team for the purpose.

“All points in the industrial policy should be properly followed,” he said, directing departments to facilitate the establishment and expansion of industries.

Ministers M B Patil, K J George, Priyank Kharge, Ajay Singh and P M Narendra Swamy, Chief Secretary Shalini Rajneesh, CM’s Adviser L K Atheeq, Additional Chief Secretary Tushar Girinath and Commerce and Industries Department Principal Secretary S Selvakumar attended the meeting.