From Our Special Correspondent
Daijiworld Media Network

Bengaluru, Dec 7: At least 75% of the proposals out of the massive Rs 9.82 lac crore investment projects for which memorandum of understanding (MoUs) were signed at the Global Investors Meet held in Bengaluru last month will come up in the next 5 years, Industries Minister Murugesh R Nirani said.

Nirani said there were no doubts about the success of the GIM and expressed the confidence that it will lead to future growth of Karnataka.

“We are glad that the GIM ended successfully with an overwhelming response from all the stakeholders. We have received investments to the tune of Rs 9.82 lac crore,’’ he said.

The minister said nodal officers will be appointed to implement/approve the MoUs made in the GIM within 90 days.

District-wise Coordination Committee and nodal officers will be appointed for providing basic infrastructures like land, water and power for the implementation of the MoUs, he said.

Although investors have come forward to invest Rs 2 lakh crore in addition to Rs 9.82 lakh crore, the department has not entered into MoU with them.

The minister said preference was given to the MoU which was made during the GIM.

A few projects for which MoUs were signed in the previous GIMs did not get implemented due to the lapses of the previous governments.

“Our aim is the overall development of the state, and I am glad that more than 90% of these investments are going beyond Bengaluru,’’ he said pointing out that majority of the projects would come up in the districts,

Over Rs 2000 cr investment cleared

In addition, a total of 59 investment proposals worth Rs 2627.88 crore promising 9764 jobs have also been cleared at the 136th State Level Single Window Clearance Committee (SLSWCC) meeting.

Nirani said the committee considered and approved 7 important large and medium-sized industrial projects with investments of more than Rs 50 crore. These projects worth Rs 852.06 crore are expected to create employment opportunities for 3860 persons in the state.

At the SLSWCC meeting, 48 new projects with investments of more than Rs 15 crore and less than Rs 50 crore were also cleared. These projects worth Rs 923.09 crore would generate jobs for 4444 people in Karnataka.

Four projects of additional investment have also been approved, which will result in an investment of Rs 852.73 crore and would generate 1460 employment opportunities.

In total, 59 investment proposals worth Rs 2627.88 crore promising 9764 jobs were approved in the meeting.

Emphasis on Ethanol production

Nirani added that we have to reduce the import burden on petrol and diesel and give more emphasis on the use of ethanol to save the environment, and civil society will be reduced.

The import of diesel engine vehicles has already been banned. Emphasis is to be given to run vehicles on bio-fuel, i.e. locally available ethanol, he added.