Big-ticket Oracle, L&T projects get govt okay

 Karnataka cleared two major business proposals promising investments of about Rs 4,500 crore in Bengaluru.

The State High-Level Clearance Committee, chaired by Chief Minister Siddaramaiah, on Friday approved Oracle’s plan to build a development centre in Bengaluru. The American IT solutions company will invest Rs 2,438 crore.

L&T, homegrown infrastructure major, will develop an IT park, also in Bengaluru, investing Rs 800 crore and Rs 1,280 crore on two land parcels.

Oracle’s development centre will come up on the Outer Ring Road, between Marathahalli and Sarjapur, Information Technology Minister Priyank Kharge told DH.

It will generate 9,697 jobs over three years, he said. The committee also discussed a proposal to set up the Devi City Industrial Park at Belagavi, with an investment of Rs 1,500 crore.

Kharge said some departmental approvals were pending. Once they were given, the high-power committee would consider granting approval, he said.