<p>Addressing a gathering of industry captains as part of the road-show in the City for the Global Investors’ Meet, the Minister said Karnataka has been one of the few states to develop a land bank for industrial purposes by notifying 50,000 acres for acquisition and identifying another 50,000 acres. <br /><br />The two-day meet is scheduled to begin in Bangalore from June 3.<br /><br />Karnataka has already proved its leadership in information technology and biotechnology and has an edge in aviation and aerospace industries to earn the sobriquet ‘The Knowledge Hub of Asia’. <br /><br />The State has been making huge investments in infrastructure, including five industrial corridors and a clutch of power projects that will radically alter its industrial profile. <br />“We need to add value to our minerals and take to food processing in a big way,” Nirani <br />said in a high-profile campaign for the GIM. <br /><br />The government expects to attract another Rs four lakh crore investments during the GIM, the minister added. <br /><br />Infrastructure projects<br /><br />Listing some of the major infrastructure projects in the pipeline, including upgrading Mangalore and two other ports in Karnataka, constructing airports in all tier-II cities and power projects, the State Commissioner and Director of Industries, Rajkumar Khatri, said the State did not lag behind in skilled manpower either. <br /><br />Over 89 ‘Fortune 500’ companies besides 700 plus MNCs have already set shop in Karnataka and the recent investments pouring in were very encouraging, he said. <br />Khatri said the final notification to acquire land for the Rs 30,000-cr six million tonnes per annum (MTPA) integrated steel plant of ArcelorMittal in Bellary district has been issued and the Company on Monday deposited Rs 208 crore to the government. <br /><br />The sum is in addition to Rs 60 crore already paid initially for the land.<br /><br />Cement plant<br /><br />Besides Lafarge establishing a three MTPA cement plant with an investment of Rs 1,500 crore Khatri said Gas Authority of India Limited (GAIL) was taking up a huge Rs 7,000 crore gas pipeline project from Dabhol (in Maharashtra) to Bangalore.<br /><br />Though Karnataka has been 15 per cent deficient in power now, with a slew of new power project initiatives, the “situation will drastically improve in six months,” Khatri added. <br /><br />Arun Kumar, Chairman, Confederation of Indian Industries, Karnataka gave an overview and a few Tamil Nadu industrialists shared their experience of investing in Karnataka.<br /><br />-Investments in five industrial corridors.<br /><br />- Govt has created a land bank for industrial purposes by notifying 50,000 acres for acquisition and has identified another 50,000 acres.<br /><br />- Port in Mangalore and two other ports in the State to be upgraded.<br /><br />- Airports to be constructed in all tier-II cities.<br /></p>
<p>Addressing a gathering of industry captains as part of the road-show in the City for the Global Investors’ Meet, the Minister said Karnataka has been one of the few states to develop a land bank for industrial purposes by notifying 50,000 acres for acquisition and identifying another 50,000 acres. <br /><br />The two-day meet is scheduled to begin in Bangalore from June 3.<br /><br />Karnataka has already proved its leadership in information technology and biotechnology and has an edge in aviation and aerospace industries to earn the sobriquet ‘The Knowledge Hub of Asia’. <br /><br />The State has been making huge investments in infrastructure, including five industrial corridors and a clutch of power projects that will radically alter its industrial profile. <br />“We need to add value to our minerals and take to food processing in a big way,” Nirani <br />said in a high-profile campaign for the GIM. <br /><br />The government expects to attract another Rs four lakh crore investments during the GIM, the minister added. <br /><br />Infrastructure projects<br /><br />Listing some of the major infrastructure projects in the pipeline, including upgrading Mangalore and two other ports in Karnataka, constructing airports in all tier-II cities and power projects, the State Commissioner and Director of Industries, Rajkumar Khatri, said the State did not lag behind in skilled manpower either. <br /><br />Over 89 ‘Fortune 500’ companies besides 700 plus MNCs have already set shop in Karnataka and the recent investments pouring in were very encouraging, he said. <br />Khatri said the final notification to acquire land for the Rs 30,000-cr six million tonnes per annum (MTPA) integrated steel plant of ArcelorMittal in Bellary district has been issued and the Company on Monday deposited Rs 208 crore to the government. <br /><br />The sum is in addition to Rs 60 crore already paid initially for the land.<br /><br />Cement plant<br /><br />Besides Lafarge establishing a three MTPA cement plant with an investment of Rs 1,500 crore Khatri said Gas Authority of India Limited (GAIL) was taking up a huge Rs 7,000 crore gas pipeline project from Dabhol (in Maharashtra) to Bangalore.<br /><br />Though Karnataka has been 15 per cent deficient in power now, with a slew of new power project initiatives, the “situation will drastically improve in six months,” Khatri added. <br /><br />Arun Kumar, Chairman, Confederation of Indian Industries, Karnataka gave an overview and a few Tamil Nadu industrialists shared their experience of investing in Karnataka.<br /><br />-Investments in five industrial corridors.<br /><br />- Govt has created a land bank for industrial purposes by notifying 50,000 acres for acquisition and has identified another 50,000 acres.<br /><br />- Port in Mangalore and two other ports in the State to be upgraded.<br /><br />- Airports to be constructed in all tier-II cities.<br /></p>