Bellary steel plant among 13 mega projects cleared

Bellary steel plant among 13 mega projects cleared

Bellary, Kolar, Mysore bag lion's share of investments

Bellary steel plant among 13 mega projects cleared

The High Level Clearance Committee (HLCC) headed by Chief Minister Siddaramaiah on Wednesday cleared 13 investment proposals worth about Rs 9,912 crore, including an integrated steel plant in Bellary. 

Sandur Manganese and Iron ore Ltd has proposed to set up the steel plant of one million metric tonnes capacity per annum at Sandur taluk in Bellary. It is perhaps for the first time that the HLCC headed by Siddaramaiah has cleared a new steel plant project in Bellary, after the illegal mining scam rocked the State in 2010. 

Deerfield Logistics Private Limited’s proposal to set up a logistic park at Narasapura in Kolar at a cost of Rs 1,000 crore has been given the green signal. 

A proposal to manufacture medium density fiber boards at an investment of Rs 703.78 crore by King Wood Décor Private Limited has been approved. Besides, two proposals for manufacturing auto parts – one by Toyota Auto Parts and another by Cataler India Auto Parts Private Limited – have been cleared. Toyota will be investing Rs 250 crores, according to an official release.

Briefing reporters after the meeting, Siddaramaiah said that the 13 projects are expected to create about 5,986 jobs in nine districts of the State, including Bangalore Urban. Bellary, Kolar and Mysore districts have got highest investments. 

He said a total of 49 industry projects worth about Rs 39,492 crore have been cleared by the HLCC ever since his government assumed office in 2013. 

A committee headed by the Chief Secretary (which is empowered to approve industry projects less than Rs 100 crore) has cleared 205 projects, of the total investment of Rs 3,463 crore during this period. The HLCC clears industry projects worth above Rs 100 crore.

Letter to PM

Siddaramaiah said he has written a letter to Prime Minister Narendra Modi, urging him to sanction special developmental package to the Hyderabad-Karnataka region, on the lines of the one recently given to the newly carved states of Andhra Pradesh and Telangana.

Investors are getting attracted to the neighbouring states as they get benefits like IT exemptions and waiver of Central Excise duty as a result of the special package. 

“It is creating unhealthy competition. I have personally informed him (Modi) on the issue during his recent visit to Karnataka,” he said.

The State government had agreed to almost all the demands of Hero MotoCorp which had offered to set up its unit in Dharwad. Incentives and concessions offered to the company were much more than what was given to Honda Motors. But Hero MotoCorp went to Andhra Pradesh because of the special package, he said. 

Global Investors’ Meet

He said the government will finalise the date on holding the Global Investors’ Meet after unveiling the new industrial policy on October 17. 

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