BENGALURU: The Karnataka government on Monday approved 18 projects, including Foxconn’s investment proposal. The 61st meeting of the State High-Level Clearance Committee, chaired by Chief Minister Basavaraj Bommai, approved projects with a total investment of Rs 75,393.57 crore.
A statement issued by the industry minister’s office said Foxconn Hon Hai Technology India Mega Development Private Limited (FHH) would invest Rs 8,000 crore in the state, with employment opportunities for 50,000 people.
The delegation led by Foxconn CEO and chairman Young Liu visited Bengaluru recently. iPhone maker Foxconn had signed a ‘Letter of Intent’ with the state government.
Of the 18 projects approved on Monday, 10 are new and five are expansion projects, and three are additional projects. “We are happy the state has received such a huge investment. The proposals for green hydrogen, ethanol production, wind energy power plant, electrical and electronic items assembling, lithium batteries and electric vehicles, and cement and steel companies in the state were approved at the meeting,” the CM said.
Industries Minister Murugesh R Nirani said Karnataka is at the forefront of the renewable energy, ethanol production and manufacturing sector. “In order to encourage green hydrogen production, ethanol production, aerospace and renewable energy, we have approved proposals from Amplus Active Private Limited, Ayana Renewable Power Six Private Limited, and TATA Advanced Systems Limited,” he said.
He said Karnataka is the third largest sugarcane-growing state in the country and is also the highest producer of ethanol, and that green energy investment proposals were approved at Monday’s meeting.
