FCC

Karnataka Approves Rs. 34,115 Crore Projects

2023-12-13

Karnataka's State High-Level Clearance Committee, led by Chief Minister Siddaramaiah, approved 14 projects worth a staggering Rs. 34,115 crore on Tuesday. These projects are projected to create over 13,000 jobs across the state.

Out of the approved proposals, 10 are new projects valued at Rs. 19,452.40 crore, with the remaining four being additional investments totaling Rs. 14,662.59 crore.

The committee greenlit Taiwanese electronics giant Foxconn's proposal to further invest Rs. 13,911 crore in the state, adding to their existing investment of Rs. 8,000 crore.

Other significant approvals included projects from JSW Renew Energy Four Limited (Rs. 4,960 crore), JSW Steel Limited (Rs. 3,804 crore), Toyota Kirloskar Motor Private Limited (Rs. 3,237.30 crore), and TRIL Bengaluru Real Estate Six Limited (Rs. 3,273 crore). Additionally, Janki Corp Limited received approval for an additional investment of Rs. 607 crore.

Several projects specifically focused on generating employment and boosting industrial growth in North Karnataka were also approved. These include JSW Renew Energy Four Limited, Janki Corp Limited, JSW Steel Limited, and Orient Cement Limited. Collectively, these projects will bring in Rs. 9,461 crore in investments and create 3,538 jobs in the region.