Tuesday, October 11 2005 15:59 Hrs (IST) - World Time -

Bangalore: Karnataka Government's High Level Committee has cleared 24 mega industrial projects involving Rs 24,893.37 crore, which include eight IT projects.

The committee meeting chaired by the Chief Minister N Dharam Singh, yesterday (Oct 10, 2005) accorded approval in principle for these projects, which upon completion are expected to generate employment to 83,385 persons, Minister for Industries P G R Sindhia told reporters here.

Interestingly, IT companies which had threatened the Government to move out of the city citing poor infrastructure, have secured approval for eight project proposals, with seven of them coming up around the city.

WIPRO's proposal to set up an SEZ for the development of 'IT and ITES' with Rs 160.02 crore investment at Electronic City and a similar project involving Rs 103 crore investment at Sarjapur Road have been cleared, he said.

The Government has also cleared Jindal Vijayanagar Steels Ltd proposal for expanding its production capacity by additional 4.2 MTPA at Toranagallu in Bellary district with Rs 10,912 crore investment.

JSW Steel Ltd would set up a cold rolled stripe and sheets at Tornagallu deploying 1100.91 crore investment, Sindhia said, adding, Southern Port Terminals Pvt Ltd would establish a Rs 4,805.59 crore integrated steel plant at Raichur.

Investment in automobile sector would get further boost with Toyota Kirloskar Motors establishing a compact cars manufacturing unit at Bidadi with Rs 1147 crore investment, he said.

Sindhia said the coalition Government from June 2004 to October 2005 has accorded approval for 383 mega projects involving Rs 77,460 crore investment and with a potential to create 5.85 lakh jobs.

Some automobile giants have evinced interest to set up units in the state, he said, but refused to name them.