Sify Data Managed Services to invest Rs 847 crore in Bengaluru's Aerospace Park

Sify has been on a partnership spree with major tech companies, including Cisco, to expand operations.

Nasdaq-listed information and communications technology firm Sify Data Managed Services will invest Rs 847 crore in Bengaluru's Aerospace Park.

Sify has been on a partnership spree with major tech companies, including Cisco, to expand operations and enterprise digital transformation. Sify Data Managed Services provides services in data centers, networks, and security services.

The 64th State High-Level Clearance Committee (SHLCC), chaired by Chief Minister Siddaramaiah, approved nine proposals worth Rs 9,823 crore across various industrial sectors, expected to create 5,605 jobs. "The first semiconductor project in the electronics manufacturing cluster at Kochanahalli, Mysuru, is a major milestone for the state," said Siddaramaiah.

Also read: Zoho-backed Silectric Semiconductor Manufacturing to invest Rs 3,425 crore in Karnataka

Meanwhile, the state government had earmarked 234 acres of land at Kochanahalli, near Kadakola in Mysuru, for the electronics manufacturing cluster (EMC) and semiconductor units. Karnataka is also planning to roll out a new Electronics System Design and Manufacturing (ESDM) policy.

Of the Rs 9,823 crore in investments approved the State High-Level Clearance Committee meeting, includes three new investments worth Rs 6,573.6 crore, which could create 4,427 jobs: DN Solutions India Private Limited (Rs 998 crore investment, 467 jobs) at ITIR, Devanahalli, Silectric Semiconductor Manufacturing Private Limited (Rs 3,425.6 crore investment, 460 jobs) in Mysuru, and Sansera Engineering Limited (Rs 2,150 crore investment, 3,500 jobs) at Harohalli.

Additionally, there are six existing investment proposals worth Rs 3,249.7 crore, which are expected to generate 1,178 jobs.

Other decisions

Meanwhile, a review was called for concerning companies that acquire land from the Karnataka Industrial Areas Development Board (KIADB) but fail to start operations within the stipulated period. “Fines will be imposed on such companies where necessary” he said. The CM stressed on the importance of industries adhering to government regulations.

He also directed sugar factories to address the issue of providing farmers with a share of profits from by-products, suggesting that Karnataka examine the practices followed in Maharashtra and Tamil Nadu in this regard.

Also, read: Priyank Kharge pitches GIFT City in Karnataka, urges Union govt to fast-track approvals