Tata Steel announced a big-ticket investment for Karnataka on the first day of the states second Global Investors Meet committing to a Rs 30,000 crore,six million ton per annum capacity steel plant in Haveri district.
The second global investors meet organised by the BJP government is hoping to do better than the first meet in 2010 when commitments of Rs 3.92 crore investments were made primarily in the iron and steel sector but with little subsequent materialisation of agreements due to various reasons,including land acquisition problems.
The BJP government which is into its last year of the current tenure is targeting an MoU signing spree that amounts to a commitment of Rs 6 lakh crore worth of investments this time around.
Among other big-ticket announcements the Aditya Birla Groups Kumar Mangalam Birla proposed investments of Rs 7,000 crore,including a four million tonne per annum capacity cement plant at a cost of Rs 2,750 crore.
Wind turbine manufacturer Suzlon Group signed an expression of interest with Karnataka to develop 2,500 MW of wind power capacity between 2012 and 2017 at a cost outlay of Rs 15,000 crore.
GE India made a Rs 300 crore commitment to set up multi-disciplinary research and development and technology centres by expanding GE Indias existing technology centre at Bangalore to include experimental labs and its infrastructure.
At the inauguration,Chief Minister DV Sadananda Gowda said 72 per cent of the 389 proposed investments made in 2010 had fructified although unofficial estimates say only 40 projects have materialised.
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