On Monday, the Karnataka State High-Level Clearance Committee authorised investments worth Rs 11,495.4 crore. “I am pleased to inform that during Monday’s 58th meeting of the State High-level Clearance Committee, we authorised five new projects and four additional investment projects totaling Rs. 11,495.4 crore, creating employment for approximately 46,984 persons,” Karnataka Chief Minister Basavaraj Bommai stated. Exide Industries is investing Rs 6,002 crore to build the country’s largest lithium-ion cell manufacturing giga factory for advanced cell chemistry technologies near Bengaluru airport, which is estimated to create 1,200 to 1,400 jobs.
Nsure Reliable Power Solutions Private Limited will set up the lithium-ion cell at Malur in Kolar district, JSW Renewable Energy (Vijayanagar) Ltd closed loop pumped storage project to generate 130 MW hydro power in Vidyanagar in Ballari district and Web Werks India Pvt Ltd will set up data centre service.
Tetrarch Developers Limited will set up “Multi-Sector Industrial Park, Aerospace, Defence, Data Centres, Electronics, Hi-tech, Logistics, Housing and other social infrastructure Activities”at Devanahalli in Bengaluru.
Additional investment proposals cleared in the meeting are ACC Ltd in limestone mining in Kalaburagi, Goodrich Aerospace Services Pvt Ltd in aircraft system at Aerospace SEZ near Bengaluru airport, cement and thermal power plants by JK Cements Works at Bagalkot and CV Projects Pvt Ltd to invest in infrastructure for IT SEZ at Yelahanka.