Karnataka approves Rs 943bn investment projects

Over 34 projects ranging from solar photo voltaic power project of Moserbaer, electrical switchgears by Easun Reyrole and others are parts of it

Bangalore: Karnataka approved in-principle 34 projects, ranging from electrical switchgears to aerospace components, with total investment of over Rs 94,300 crore.

The projects, for which memorandum of understanding will be signed at the June global investors meet in Bangalore, will create employment opportunity for over 98,000 people, Chief Minister BS Yeddyurappa told reporters.

The proposals include 50 MW solar photo voltaic power project of Moserbaer, electrical switchgears by Easun Reyrole, aerospace components by Swiss firm Starragheckert, and CFL bulbs, energy efficient tube light and LED lamps by Surya Roshini, reports IANS.

The Industrial Finance Corporation of India (IFCI) will establish a "Financial City" near Devanahalli Industrial Area, some 40 km from Bangalore, with an investment of Rs 1,000 crore, Yeddyurappa said.

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