Karnataka's State High Level Committee has cleared 31 industrial projects which will require an investment of Rs 1.46 lakh crore.
The projects, including two cement plants to come up in Gulbarga district, were cleared by the Committee chaired by the Chief Minister DV Sadananda Gowda and attended by the Industries Minister Murugesh Nirani, an official statement said.
It approved the proposals to establish cement manufacturing units by JK Cements (Western) Limited in Chittapur Taluk at an investment of Rs 2,326.65 crore and that of Shivashankar Minerals Limited to set up 3.5 MTPA (Milliom Tonnes per Annum) Cement Plant in Chincholi Taluk with an investment of Rs 2,250 crore.
BMM Ispat Limited will set up a three MTPA gas-based integrated steel plant in Dhanapura village in Bellary District at a cost of Rs 16,229.68 crore, the statement said.
The other proposals which got the nod included M/s Atria Power Corporation Limited for establishing "5 Megawatt Solar Thermal Power Plant" project spread over 75 Taluks and 13 Districts, with an investment of Rs 4,905 crore and Kalyani Steel Limited for establishing a unit for manufacture of Carbon Alloy Steel, Stainless Steels, in Yadgir District with an investment of Rs 12,000 crore.
Sun Forest City Ventures Limited proposed to establish Project Vayu for development of Infrastructure and complete ecosystem for Aerospace industries in Bangalore Aerospace Park, with an investment of Rs 9,394 crore.
The project to be implemented in the next 12 years in phases was expected to provide direct employment to 2,42,000 people.
The government has an ambitious target of attracting Rs 5 lakh crore investment in Urban Development, Infrastructure, Housing, Power, Agri business, Tourism, Automobile & Aerospace Engineering and IT/BT sector.
It aims to provide employment opportunity to around 10 lakh persons at the two-day Second Global Investors Meet being held here from June 7, it said.