State clears projects worth Rs 1,10,447 cr

 
Even as the their actual contribution to the State’s success is subject to time and performance, they have nevertheless, added to the confidence.

To boost its ego further, the State has attracted investment proposals worth lakhs of rupees in the previous financial year (2008-09), of which it has approved 354 projects with investment proposals together worth Rs 1,10,447 crore. Out of this grand sum — projects worth Rs 1,05,266 crore amount from the State High Level Clearance Committe (SHLCC) approvals, while projects worth Rs 5,181 crore received approvals from the State Level Single Window Clearance Committe (SLSWCC), — under the Karnataka Udyoga Mitra (KUM).

Under the SHLCC approvals, according to official documents available with Deccan Herald, Iron & Steel sector tops the list with a proposed investment of Rs 77,571 crore into seven new projects including approvals granted for Bharat Mines & Minerals for an integrated steel plant in Danapur, Hospet Taluk, Bellary — with a proposed investment of Rs 6,151 crore. Among others, energy sector has a proposed investment of Rs 7,608 crore into four projects, with approvals for firms like Bhoruka Power Corporation to set up a 300 MW coal-based thermal power plant in Belgaum District, with a proposed investment of Rs 1,618 crore.

IT’s share
Next on the list is the IT/ITeS SEZs — which has proposed an investment of Rs 3,995 crore into six projects — with Projin Project Private Limited getting a nod for an SEZ in Bidarahalli, Bangalore East Taluk and investment of  Rs 318 crore, while the automobile sector is said to add Rs 498 crore into four projects. Project in plastic, cement, chemicals and petro chemicals put together have a proposed investment of Rs 4,307 crore and seven projects.

Further, the government also approved Rs 4,404.46 crore inflow into the Integrated Township, Rs 190 crore into the bio-technology park project and the IT park is expected to pump in Rs 3,695 crore. Other sectors including hotel/hospitality and sugar industry have proposed Rs 2,995 crore investment through 12 projects.

Under the SLSWCC approvals, the State saw hospitality & tourism industry proposals to be the highest with Rs 1,054 crore for 36 projects. Textile sector projects are to see investment of Rs 218 crore with 12 projects. Further, the State has already cleared 24 projects in the current financial year in the State High Level Clearance Committe meeting held in June with a proposed investment of these sum up to Rs 10,958 crore. Even with such an influx of proposals, the government has set a modest target of achieving an additional investment of Rs 30,000 crore for the year 2009-10 in the new policy.

A lot of it will also depend on how many of these projects materialise within the stipulated policy period. If previous year clearances mean something, then the State seems to be on track to meet targets for both –– the year 2009-10 and the policy period.