TKM to invest Rs 3,200 cr more in Bidadi plant

Speaking to reporters, he said the company is expanding its unit as part of its second phase of the Bidadi project. The Government had handed over 700 acre land for the first phase. Additional 40 acres will be given now for implementing the second phase. The project is expected to be completed in 18 months time and the company is planning to manufacture luxury cars at the unit, he added.

Besides, the Industries minister said the Government has made it mandatory for investors to develop a residential township as part of their projects. At least 30 per cent of the land allotted for industrial development must be set aside for the township, he added.

“The State Government is ready to help companies to develop townships. Companies are also allowed to get it developed through private developers. The aim is to provide housing facilities to those employed in the industries,” the Minister said.

The Government, Nirani said, has decided to give importance to food processing industries in the State. So, a decision has been taken to provide a maximum of 50 per cent subsidy to farmers who come forward to set up food processing units, he stated.

Land bank

The Government is setting up a land bank so that the investors are provided with necessary land to establish industries. As many as 1.50 lakh acre land will be acquired for this purpose. Land has been already identified and will be acquired in three phases.

Besides, a legal cell has been set up to deal with litigations that may arise during acquisition, he said. During the last one year, the Government has cleared investments worth Rs 1.25 lakh crore. Project proposals worth over Rs 22,000 crore are coming up before the State High Level Clearance Committee scheduled to be held on June 11, the Minister said.

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