Bangalore: More than 3,000 investors from across the world gathered at the inaugural event of the two-day Glo-bal Investors Meet, organized by the Karnataka government in Bangalore on June 3. Karna-taka Chief Minister B.S. Yeddyurappa said about 400 MoUs are likey to be signed, involving an investment of more than Rs. 3.5 lakh crore during the Meet.
Among the first MoUs to be signed by the Karnataka government was one with Arcelor Mittal, the world’s biggest steel producer. Arcelor Mittal is to establish a six million tonnes per annum integrated steel plant, and a 750 MW power plant, in Bellary district, involving an investment of Rs. 32,000 crore.
Yeddyurappa said the government has offered more than 100 infrastructure projects in the state to private companies, including 18 industrial estates spread over an area ranging from 30 acres to 2,500 acres. He said the government has already “notified” 63,000 acres for land acquisition, in order to build a Land Bank for industrial use.
Kumar Mangalam Birla, Chairman of the Aditya Birla Group, said the “progressive attitude” of the Karnataka government and its provision of concessions and incentives have helped the industry. The group also signed a MoU for a four million tonne per annum cement plant in Gulbarga district.