Karnataka receives Rs 10.26 lakh cr in investment proposals: Minister MB Patil
Bengaluru, Feb 14 (PTI): Karnataka Medium and Large Industries Minister M B Patil on Friday said the state received investment proposals worth Rs 10,26 lakh crore at the Global Investors' Meet, which will create six lakh jobs.
Addressing reporters after the valedictory session of the Invest Karnataka-2025 summit, Patil said 75 per cent of the investments would be made outside Bengaluru.
"We have received investment proposals of Rs 10,27,378 crore, which will create six lakh jobs. Of this, 75 per cent pertains to ‘Beyond Bengaluru.’ I am happy to share that 45 per cent of these investments will be made in North Karnataka," Patil said.
The minister said he and his department had been preparing for this event for the past six months.
As part of this effort, he toured various countries to attract investors to Karnataka. Roadshows were also conducted across India, he added.
According to Patil, the highest investments came in the renewable energy sector, with proposals worth Rs 4.26 lakh crore.
He said the manufacturing and sunrise sectors, such as aerospace, defence, automobiles, electric vehicles, Electronic System Design and Manufacturing (ESDM) and Research and Development (R&D) would receive Rs 1.38 lakh crore in investments.
General manufacturing, including food and agriculture, textiles, pharmaceuticals, machinery tools and Fast-Moving Consumer Goods (FMCG) is set to receive investments worth Rs 1.05 lakh crore.
In the core manufacturing sector, including steel and cement, the state received proposals worth Rs 1.60 lakh crore.
For infrastructure and industrial logistics, including city gas distribution, telecom, airports, and other infrastructure projects, the state received investment proposals totalling Rs 1.08 lakh crore.
The minister emphasised that the Global Investors’ Meet should not be limited to signing Memoranda of Understanding (MoUs). "The investments will continue even after the GIM. We did not sign all the MoUs blindly this time. We conducted screenings to check their reliability. This time, we insisted on greenfield projects rather than brownfield, which means expansion. We now have 70 per cent greenfield projects," Patil said.
According to the minister, some of the key investments include Rs 1.2 lakh crore by the JSW Group in renewable energy, cement, steel and affiliated businesses.
Baldota Steel and Power Limited has agreed to invest Rs 54,000 crore in an integrated steel plant, while Lam Research will establish a Rs 10,000 crore semiconductor equipment manufacturing and R&D facility.
Volvo will set up a Rs 1,400 crore unit to manufacture EV trucks.
Samvardhana Motherson has proposed investing Rs 3,700 crore in manufacturing, engineering, and assembly facilities.
Emmvee Energy Private Limited will invest Rs 15,000 crore in manufacturing solar photovoltaic cells and modules in the state, while RSOLEC will set up a solar ingot wafer manufacturing unit with an investment of Rs 5,000 crore.
Mahindra Susten will invest Rs 36,000 crore in renewable energy projects and tourism, while Hero Future Energies will invest Rs 22,200 crore in renewable energy, green hydrogen and its derivatives.
Epsilon Group will invest Rs 15,350 crore in manufacturing anode and cathode materials, Shree Cement Limited will establish an Rs 8,350 crore integrated plant and clinker grinding unit, and Schneider Electric will invest Rs 2,247 crore in manufacturing electrical products and R&D activities.
Havells has signed an MoU to expand its existing manufacturing facility in Tumakuru and set up a new R&D facility in Bengaluru at an investment of Rs 710 crore.
Suzlon Energy has agreed to invest Rs 21,950 crore in wind power projects and wind turbine generator manufacturing facilities, while ESR Advisers will develop an industrial park and data centre with an investment of Rs 2,500 crore.
TVS Motor will establish a state-of-the-art R&D facility with an investment of Rs 2,000 crore.
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Another North Goa nightclub sealed; Kejriwal says corruption led to fire tragedy
Panaji (PTI): As part of a crackdown against tourist establishments violating laws and safety norms in the aftermath of the Arpora fire tragedy, Goa authorities on Saturday sealed a renowned club at Vagator and revoked the fire department NOC of another club.
Cafe CO2 Goa, located on a cliff overlooking the Arabian Sea at Vagator beach in North Goa, was sealed. The move came two days after Goya Club, also in Vagator, was shut down for alleged violations of rules.
Elsewhere, campaigning for local body polls, AAP leader Arvind Kejriwal said the fire incident at Birch by Romeo Lane nightclub at Arpora, which claimed 25 lives on December 6, happened because the BJP government in the state was corrupt.
An inspection of Cafe CO2 Goa by a state government-appointed team revealed that the establishment, with a seating capacity of 250, did not possess a no-objection certificate (NOC) of the Fire and Emergency Services Department. The club, which sits atop Ozrant Cliff, also did not have structural stability, the team found.
The Fire and Emergency Services on Saturday also revoked the NOC issued to Diaz Pool Club and Bar at Anjuna as the fire extinguishers installed in the establishment were found to be inadequate, said divisional fire officer Shripad Gawas.
A notice was issued to Nitin Wadhwa, the partner of the club, he said in the order.
Campaigning at Chimbel village near Panaji in support of his party's Zilla Panchayat election candidate, Aam Aadmi Party leader Kejriwal said the nightclub fire at Arpora happened because of the "corruption of the Pramod Sawant-led state government."
"Why this fire incident happened? I read in the newspapers that the nightclub had no occupancy certificate, no building licence, no excise licence, no construction licence or trade licence. The entire club was illegal but still it was going on," he said.
"How could it go on? Couldn't Pramod Sawant or anyone else see it? I was told that hafta (bribe) was being paid," the former Delhi chief minister said.
A person can not work without bribing officials in the coastal state, Kejriwal said, alleging that officers, MLAs and even ministers are accepting bribes.
