Wednesday, May 22 2024 | Time 10:53 Hrs(IST)
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Business Economy


SHLCC clears 18 projects including Foxconn

Bengaluru, Mar 20 (UNI) The 61st meeting of the State High-Level Clearance Committee approved 18 projects with a total investment of Rs 75,393.57 crore including Foxconn

Foxconn Hon Hai Technology India Mega Development Private Limited (FHH) would invest Rs. 8000 crore with employment opportunities for 50000 people. The delegation led by Foxconn CEO and Chairman Young Liu visited the state and held a meeting with CM Basavaraj Bommai a fortnight ago in Bengaluru.

The meeting was held at Krishna on Monday under the chairmanship of Bommai. Amongst the 18 projects that got approval, 10 are new and 5 are expansion projects, and 3 are additional projects*.

Investment projects are expected to further push industrial growth and generate direct and indirect employment opportunities in Karnataka.

Speaking at the meeting, Bommai said, “We are happy that the state has received such a huge investment. In this regard, the proposals for green hydrogen, ethanol production, wind energy power plant, electrical and electronic items assembling, lithium batteries and electric vehicles, and cement and steel companies in the state have been approved in the meeting. Karnataka’s contribution to the manufacturing sector will be remarkable in the country "

Expressing his happiness over the volume of investment proposals received, Dr Murugesh R Nirani said, " This is a testimony of the industry-friendly policies and the conducive ecosystem of the state government led by CM Bommai. Karnataka is at the forefront of the renewable energy, ethanol production, and manufacturing sector. In order to encourage green hydrogen production, ethanol production, aerospace, and renewable energy, ESDM, we have approved proposals from Amplus Active Private Limited, Ayana Renewable Power Six Private Limited,TATA Advanced Systems Limited."

“Karnataka is the 3rd largest sugarcane-growing state in the country and also is the highest producer of ethanol. We are glad that the green energy sector investment proposals have been approved in this meeting," he added.

UNI BDN GNK

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