Govt gave 7,860 acres to firms to do biz in State

The State government has allotted 7,860 acres of land to companies which had signed memorandums of understanding (MoUs) with it at the Global Investors’ Meets in 2010 and 2012.

The government acquired 6,278 acres for the projects signed at the GIM in 2010. Out of this land, just 467 acres has been utilised for 13 projects that were implemented, Chief Minister Siddaramaiah said in response to a question raised by Basavaraj Rayareddy of the Congress in the Legislative Assembly on Tuesday.

Seven more projects are being set up on about 645 acres of land. The remaining land is yet to be utilised by the companies, though they signed the MoUs over four years ago.

Nine companies

Only nine of the foreign companies, which signed the MoUs in 2010, have implemented their projects.

These include Nestle India Ltd and Toyota Logistics Kishor India Pvt Ltd.
The nine companies have invested a total of Rs 1,763.84 crore.

As for the 2012 GIM, just 14 units have been set up on 668 acres of land, whereas the government had acquired 1,582 acres for 31 projects. Four more projects are being set up on 160 acres of land. Besides, 12 companies that signed the MoUs that year have set up shop in Karnataka by investing Rs 3,730 crore.