Saturday, September 8, 2012

Power, IT investors flocking to North Karnataka

The North Karnataka region, that was dogged by under-development and prominently figured in the Nanjundappa Committee on Regional Imbalance, is now the favourite destination for investors of the IT, BT and power sectors.

The State High Level Committee (SHLC), chaired by Chief Minister Jagadish Shettar, cleared projects worth Rs 42,000 crore in wind and solar power projects that will come up in Gadag, Bidar, Haveri, Koppal and Gulbarga regions.

IT/BT Department Principal Secretary M N Vidyashankar said that these are fresh proposals, besides the projects cleared during the Global Investors’ Meet (GIM).

Claiming that the recession has had no impact on investment in Karnataka or the IT industry, he said that 37 per cent of the investment in the GIM were on power projects. He also said that North Karnataka would become another IT hub in the state soon.

Observing that the availability of water is one of the factors that has encouraged investors to focus on North Karnataka, he said that two bio-tech parks that include an agri-bio park will come up in the Agriculture University, Dharwad and another in Mangalore that has rich marine potential.

140 Taiwan firms keen on investing

Vidyashankar said 140 Taiwanese companies are keen to invest in a tech park that will come up near Devanahalli. He also disclosed that the Minister for Economic Affairs of Taiwan will lead a delegation of industrialists to Bangalore on September 26, to take part in a conference at the Bangalore International Exhibition Centre that would be a platform for local industrialists to enter into joint ventures.

The Aerospace Park that will come up in 1,000 acres near Devanahalli Airport will attract $9 billion investment from Airbus, Boeing and other leading players, under one roof.