• High-level committee of Karnataka clears investment proposal of Biocon and PepsiCo

    The high-level committee on industrial investments, headed by Chief Minister Siddaramaiah, on Wednesday cleared the proposed investments of Biocon in Bengaluru and PepsiCo India in Mysuru.

    Biocon sought to invest Rs 1,060 crore in an injectable monoclonal antibodies and OSD production unit at Jigani in Anekal taluk of Bengaluru Urban district. The project, according to the company, will create 750 new jobs.

    “We made this proposal around the time of the global investors meet, and things seem to be happening in an expeditious manner. The project will come up in about 18 months,” Biocon Chairman Kiran Mazumdar-Shaw told ET. The government, she said, is keen on promoting approvals.

    PepsiCo India has proposed an investment of Rs 590 crore in the chief minister’s native district of Mysuru. It plans to set up a unit to make beverages and snacks at Adakanahalli industrial area in Nanjangud taluk. The project promises to create 900 new jobs.

    The developers of Manyata Tech park have proposed a big ticket expansion at its property spread across Nagawara, Rachenahalli and Thanisandra areas, off the outer ring road. The committee approved the proposal to invest Rs 561 crore, which the company said will create 7,170 new jobs.

    According to the proposal, the developer will build infrastructure such as a new IT park, hotel, convention centre, retail malls and commercial space in the 125 acres, allotted to it by the Karnataka Industrial Areas Development Board (KIADB).

    In all, the committee approved investment proposals worth Rs 1,621 crore for Bengaluru andRs 590 crore for Mysuru. The IT/BT sector got the highest number of proposals worth Rs 1,621 crore.  Charles Clay Womens Jersey

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