(MENAFN- KNN India)
Mysuru, Dec 24 (KNN) Silectric Semiconductor manufacturing Pvt Ltd has announced a major investment of Rs 3,425.60 crore to establish the state's first Electronics Manufacturing Cluster (EMC) at Kochanahalli, near Mysuru.
The project is expected to generate 460 new jobs, marking a significant step in Karnataka's growing electronics and semiconductor industry.
The investment was approved during the 64th State High-Level Clearance Committee (SHLCC) meeting, chaired by Chief Minister Siddaramaiah.
In total, the SHLCC approved 10 proposals across various industrial sectors in Karnataka, amounting to Rs 9,823 crore.
These projects are set to create an estimated 5,605 jobs, underscoring the state's role as a key hub for industrial development in India.
Apart from Silectric's semiconductor project, the new proposals include DN Solutions India Pvt Ltd's Rs 998 crore investment in the ITIR at Devanahalli, which is expected to create 467 jobs, and Sansera Engineering Ltd's Rs 2,150 crore project at Harohalli, promising 3,500 new jobs.
In addition to these, six ongoing projects worth Rs 3,249.7 crore will generate 1,178 jobs through expansions or amendments to existing plans.
Notable expansions include Musashi Autoparts India Pvt Ltd's Rs 122.66 crore investment at Doddaballapura (478 jobs), JSW Cement Ltd's Rs 486.82 crore project at Toranagal (225 jobs), and NIDEC Industrial Automation India Pvt Ltd's Rs 200 crore investment at Belur (150 jobs).
Other significant investments include Epsilon Carbon Pvt Ltd's Rs 740 crore expansion at Sandur (325 jobs), K B Steels Pvt Ltd's Rs 852.49 crore project at Hosapete, and Sify Data Managed Services Ltd's Rs 847.74 crore investment at the High-Tech Defence and Aerospace Park.
Chief Minister Siddaramaiah also announced that the government is exploring the possibility of profit-sharing agreements between sugar mills and farmers.
Additionally, the government has earmarked 234 acres of land in Kochanahalli for the electronics cluster and is working on a new Electronics System Design and Manufacturing (ESDM) policy to further boost the sector.
(KNN Bureau)
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