Toyota, Reliance Consumer Products among 13 companies to invest Rs 27,607 crore in Karnataka, creating 8,704 jobs

Reliance Consumer Products Ltd, a wholly owned subsidiary of Reliance Retail Ventures, and Toyota Industries are among the 13 companies which have proposed investments worth Rs 27,607.26 crore in Karnataka, which are expected to generate about 8,704 jobs.

The proposals were cleared at the 66th meeting of the State High-Level Clearance Committee (SHLCC) at Vidhana Soudha on October 24 under the chairmanship of chief minister Siddaramaiah.

“This includes 11 new industrial projects and two additional investment proposals,” large and medium industries minister MB Patil told reporters after the meeting.

Also read: Reliance Consumer to invest Rs 1,156 crore in new FMCG facility in Tamil Nadu

He said the 13 projects together would create 8,704 direct employment opportunities.

Reliance Consumer Products will invest Rs 1,622 crore, generating 1,200 jobs; Tejas Networks Rs 542.19 crore, creating 1,312 jobs and Vayu Assets Rs 1,251 crore leading to 1,912 jobs, the minister said. Jindal Steels investment of Rs 1,300.57 crore is expected to generate 271 jobs, Jindal Electrical Steel Rs 7,102 crore will create 900 jobs and Grasim Industries Rs 1,386 crore investment could lead to 203 employment opportunities. SFX India will invest Rs 9,298 crore, creating 806 jobs; Schneider Electric IT Business Rs 1,520.75 crore, 550 jobs, HSS Textiles Rs 740 crore, creating with 800 jobs and QPIAI India will invest Rs 1,136 crore creating 200 jobs. Toyota Industries Engine India Ltd's  Rs 1,330 crore investment will offer 550 jobs, he said.

Embassy Industrial Park and Balaji Wafers will invest Rs 80 crore and Rs 298.75 crore respectively under additional investment proposals, the minister added.

Deputy chief minister DK Shivakumar, energy minister KJ George, lam Minister HK Patil, IT & BT minister Priyank Kharge, higher education minister MC Sudhakar and labour minister Santosh Lad attended the meeting.

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