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Telangana, Andhra firms keen to invest in Karnataka

Hyderabad: Industrialists from Telanagana and Andhra Pradesh have evinced interest in investing in various sectors in Karnataka to the tune of over Rs.6,600 crore, officials said.

Heads of various companies on Wednesday met Karnataka's Industries Minister R.V. Deshpande and top officials to put forward their proposals.

Deshpande and some other ministers and officials were here for a road show in connection with Invest Kanataka 2016, the global investors meet scheduled to be held in Bengaluru February 3-5, 2016.

At the event organised in partnership with industry body FICCI, the minister invited business leaders to invest in Karnataka. He said the state had the presence of largest number of investors and attracted one of the highest FDI in India.

Deshpande said with salubrious climate, industrial friendly eco-system, largest number of R&D centres, large skilled workforce, fourth largest global tech cluster and 90,000 acres of land bank, his state is an ideal investment destination.

A statement released on behalf of the government gave the list of companies who showed interest in investing in Karnataka.

Mytrah Power is keen to set up and operate two renewable energy projects to generate 600 MW power. According to the statement, Rs.1,800 crore proposed to be invested in 300 MW solar project while the wind project of equal capacity will involve an investment of Rs.1,500 crore.

Nash Internationals has expressed interest in setting up a biomass project in Karnataka at a cost of Rs.1,700 crore.

Hyderabad-based infra player Ramky Infrastructure Limited has expressed an interest to invest over Rs.1,000 crore in Karnataka. Its key areas of interest include Tumkur Food Park and Yadgir Pharma Park.

Bharath Biotech is bringing a Swiss company to Karnataka to set up a food testing lab for Rs.100 crore. They also intend to open Rs.250 crore gamma radiation plant.

Sam Agrotech has expressed an interest set up an integrated food park and R&D centre with more than a Rs.100 crore outlay.

Andhra Infra Projects and Industries is exploring the possibility of setting up City View Towers with an investment of Rs.100 crore, while Karthik Group of companies is keen to invest Rs.40 crore in Geopolymer Cements. Continental Multimodel Terminals Ltd is looking at a Rs.150 crore investment.



Tags: Andhra Pradesh FICCI Karnataka Telangana