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Panel clears Rs 27,000-cr plans in Karnataka
Our Bureau
Bangalore
,
March 24
In a major decision that dispelled that Karnataka would fail to attract investment after the new government assumed power, proposals worth Rs 27,000 crore have been approved by the High Level Committee chaired by the Chief Minister, Mr H.D. Kumaraswamy.
The proposals involved eight SEZs, which would be exclusively developed for IT and biotechnology sector. The investment on this infrastructure would be Rs 20,000 crore. Another Rs 7,000-crore-worth of investment proposals belonged to non-IT sector, sources said.
The committee at its meeting held recently, gave its approval for only eight proposals. Six of these would be located in Bangalore, with two going to Mysore.
The SEZs cleared for Bangalore include Adarsh IT and ITeS SEZ; Prestige Group's Cessna Gardens; as well as SEZs by developers such as Dynasty, Sapphire and Tanglin. Biotech firm Jubilant Organosys has been cleared to set up a biotech SEZ in Mysore. Wipro has also been allotted 100-acre land in Mysore for setting up an R&D centre.
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