Karnataka clears investment proposals worth Rs 26,659 crore and potential to generate 13,341 jobs

Bengaluru: The State High Level Clearance Committee (SHLCC) meeting chaired by Karnataka Chief Minister B S Yediyurappa on Monday cleared five projects with an total investment potential of Rs 26,659 crore and can generate employment to 13,341 people.

Investments cleared in the 55th SHLCC meeting include two proposals by Elest Pvt Ltd in Hubli/Dharwad – one worth Rs 14,255 crore on 85 acres of land for electric vehicle manufacturing, with a potential to generate employment for 867 people.

The other is worth Rs 6,339 crore on 88 acres for lithium ion cells and battery manufacturing unit, that can generate 1,804 jobs.

Also cleared are proposals worth Rs 1,825 crore by Hyunet Private Ltd on 300 acres to be allotted by Karnataka Industrial Areas Development Board in Bagepalli taluk of Chikkaballapur district for Lithium batteries and electric vehicles, that can produce 2,210 jobs.

Investment of Rs 1,290 crore by Miraculum Green Power Pvt Ltd on 700 acres to be taken on lease at villages in Jagalur Taluk of Davengere district to set up 110 MW hybrid wind solar power project, with a potential to generate 2,820 jobs.

Proposal worth Rs 2,950 crore by Sanali Power Pvt Ltd on 1,710 acres also taken on lease at villages in Jagalur Taluk of Davengere district to set up hybrid wind solar power project, that can create jobs to 5,640 people.

The SHLCC meet was attended by Large and Medium Industries Minister Jagadish Shettar, Deputy Chief Minister Ashwat Narayan, Gaurav Gupta, Principal Secretary – Commerce and Industries department and other senior officials.

While projects with investments between Rs 15 to 100 crore are cleared by the State Level Single Window Clearance Committee (SLSWCC), chaired by the Minister for Large and Medium Scale Industries, investments above Rs 100 crore are cleared by the SHLCC, chaired by the Chief Minister.