Financial Daily from THE HINDU group of publications
Friday, Sep 10, 2004
Financial Daily from THE HINDU group of publications Friday, Sep 10, 2004 |
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Karnataka Industry & Economy - Infrastructure Karnataka clears projects worth Rs 23,320 cr Our Bureau
Bangalore, Sept 9 THE Karnataka Government's high-level committee on Thursday cleared 11 major investment proposals totalling nearly Rs 23,320 crore. These include projects of Cipla, ONGC-MRPL, Jindal Thermal and MCF and would be executed on a fast-track basis. Of these, three ONGC-MRPL projects in the petrochemicals sector alone are to bring in investments worth Rs 20,019.50 crore, the Chief Minister, Mr N. Dharam Singh, told a news conference later. Today's was the first high-level committee meeting of the three-month-old State Government to consider investment plans exceeding Rs 50 crore each. ONGC recently signed an MoU with the State for investments of Rs 25,000 crore in a coastal SEZ and gas projects at Mangalore. Today's projects include a petrochemicals and aromatics plant at Mangalore; a 2000-MW gas-based power project; and an ethane and propylene regasification plant. The ONGC plan includes import of 10 tpa of LNG to be regasified at Mangalore. A gas line to be laid up between Bangalore and Chennai would be extended up to northern Gulbarga district. The power projects that were cleared are the 2X250-MW coal-based Jindal Thernal Power Co at Nandikur and Jindal Vijayanagar Steel's 100-MW captive plant, JSW Power Ltd, at Toranagal near Bellary. The HLC cleared a proposal by JVSL's captive supplier Euro Coke & Energy Pvt Ltd to set up metallurgical coke and a 50-MW cogeneration plant at Toranagal. Mangalore Chemicals & Fertilisers Ltd will also set up a metallurgical coke and 36-MW cogeneration plant at Mangalore. Mudra Fabrics Ltd is starting a Rs 117.58-crore EoU at the Apparel Park proposed at Doddaballapur near here. The unit will manufacture woven fabrics and readymade garments. Cipla Ltd got the clearance to start a Rs 85.5-crore bulk drugs plant at Bangalore. Hampi Industries Ltd's integrated steel mill to make sponge iron and long products with 20-MW cogeneration is to come up at Koppal near Raichur. The project is to have an investment of Rs 249 crore. A Rs 163.5-crore business and family entertainment centre has been proposed in Bangalore by Davanam Constructions. The project includes star hotel, convention centre, craft bazaar, multiplex, a shopping mall and an amusement park.
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