DK Shivakumar
Bengaluru: The state high-level clearance committee headed by chief minister DK Shivakumar Wednesday evening cleared 17 multi-sector projects worth Rs 29,679 crore.
From aerospace to renewable energy and from cars to toys, nine projects are expected to generate 66,360 jobs. The highest investment comes from Hero Future Energies in renewable energy with Rs 9,760 crore seeking to create 3,200 jobs. Other notable investments are Vibrancy Real Estates, which is investing Rs 2,196 crore, and Mahindra Aerostructures that’s setting up a unit worth Rs 2,300 crore. While this venture is expected to generate 30,000 jobs in the state, Mahindra subsidiary will create 3,000 jobs. Aequs Consumer Products (Rs 1,104 crore), known for toys, Epsilon Cam (Rs 1,500 crore), Toyota Kirloskar Motor (Rs 1,200 crore), Nirani Sugars (Rs 4,063 crore), TruAlt Bioenergy (Rs 2,988 crore) and Lighthouse Canton Alternative Asset (Rs 600 crore) will be making fresh investments. The CM-led committee cleared additional projects worth Rs 3,969 crore by eight companies.
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Vibrancy Real Estates is said to be a joint venture between real estate giants Brigade Enterprises and alternative investment fund company called GSS India Opportunities managed by Bain Capital Advisors. He is said to have directed the finance department to form a new audit team for the purpose. Shivakumar instructed officials to ensure proper project checks and pre-audits for granting licences. Download the TOI App.