Karnataka approves Rs.2,211 crore investment proposals

The Dollar Business Bureau

The government of Karnataka has approved three projects, including Biocon and PepsiCo India, thus committing to a total investment of Rs.2,211 crore.

An official release said that Biocon has proposed an investment of Rs.1,060 crore for the manufacturing of monoclonal, injectable and anti-bodies vaccines, in the Anekal Taluk. The project is expected to employ 750 people.

In the same way, PepsiCo India is investing Rs.590 crore and has proposed to set up beverage and snack unit at Nanjangud taluk in Mysuru district. This project is expected to employ 900 people.

The 44th state level clearance meeting that was chaired by Siddaramaiah, Chief Minister of Karnataka, also approved the expansion project of Manyata Promoters Pvt.Ltd. The additional investment for this project is Rs.561 crore, however, it is expected to generate employment opportunities for about 7,170 people. 

With this investment, Manyata will develop hotels, Information Technology Park and allied infrastructure, commercial space and convention centers at Nagavara, Thannisandra and Rachenahalli villages in Bengaluru.

The committee approved an investment worth Rs.1,621 crore for Bengaluru and Rs.590 crore for Mysuru. The Information Technology sector got the highest number of proposals which was worth Rs.1,621 crores.