Mumbai: Basavaraj Bommai-led Karnataka government cleared investments worth ₹34,432 crores and will create 48,850 jobs.
As many as eight new projects and 10 additional investment projects were approved which are expected to generate employment opportunities, as per an official statement.
The project proposals were cleared in the 59th state high-level clearance committee (SHLCC) chaired by chief minister Basavaraj Bommai in Bengaluru.
“The High-Level Sanctioning Committee has considered and approved 8 new projects and 10 additional investment projects which are expected to generate industrial growth and direct and indirect employment opportunities in Karnataka,” the Industries Department said in a statement.
The project was approved a day after Union Home Minister Amit Shah met Union Home Minister Amit Shah along with other political updates on the progress of investments coming to the state, as the BJP defends its term in the 2023 Assembly elections.
Among the projects approved in the SHLCC meeting, TrueAlt Bioenergy Ltd. contributed ₹1,856.47 crore and Japanese carmaker, Toyota Kirloskar Motor Private Limited has proposed to expand its existing portfolio to include Hybrid technology vehicles along with ICE Vehicles with an investment of ₹3,661.5 crores.
Other investments include ₹977 crores by Carl Zeiss India (Bangalore) Pvt Ltd, and ₹2,500 crores by Prakash Sponge Iron & Pvt Ltd for an integrated steel 0.2 MMTPA.
Bommai also met Anil Agarwal, Chairman, Vedanta Resources Limited, in Bengaluru on Friday.