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34 investment proposals cleared

Bangalore: The State High-Level Clearance Committee (SHLCC), a committee chaired by chief minister B S Yeddyurappa that clears investment proposals, today accorded in-principle approval to 34 industrial investment proposals.

Briefing reporters after the meeting, minister for large and medium industries Murugesh R Nirani said the government would sign a memorandum of understanding with the project proponents during the Global Investors’ Meet to be held on June 3 and 4 in Bangalore. Nirani said these projects will involve an investment of Rs 94,300 crore. Once commissioned these projects would create employment for 98,300 persons.

Of the 34 projects, nine projects with a combined investment of Rs 74,156 crore are in the iron and steel sector, four in the energy sector with an investment of Rs 10,635 crore, four cement units at Rs 5,121 crore and Rs 1,000 crore in solar power sector. One project each in logistics, IT/TeS and BPO sectors were approved. Two projects involving an investment of Rs 207 crore were cleared in the agriculture sector.