Karnataka clears ₹29,679 crore of new projects

Karnataka has approved 17 new and additional investment proposals involving a combined investment of ₹29,679.20 crore, strengthening the state’s project pipeline across renewable energy, aerospace, automotive, manufacturing, bioenergy and infrastructure. The projects are estimated to generate around 66,360 employment opportunities.

The largest proposal is from Hero Future Energies, involving an investment of ₹9,760 crore, with employment potential of around 3,200 jobs. Nirani Sugars has proposed an investment of ₹4,062.60 crore, while TruAlt Bioenergy plans a ₹2,988 crore project.

In the aerospace sector, Mahindra Aerostructures will invest ₹2,300 crore to establish a facility for manufacturing aerospace parts and assemblies in Kolar, generating an estimated 3,000 jobs. Aequs Consumer Products will invest ₹1,104 crore to expand electronics components and assemblies manufacturing in Dharwad.

Another major proposal involves ₹2,194.94 crore for development of IT & ITES office space in Bengaluru, with potential for 30,000 jobs. Other approvals include Epsilon – ₹1,500 crore, Toyota Kirloskar Motor – ₹1,200.02 crore, and Lighthouse Canton Alternatives Asset Manager – ₹600 crore.

The approvals underline Karnataka’s expanding investment pipeline and are expected to generate substantial opportunities for EPC contractors, equipment suppliers, technology providers and project service companies.