The Department of Industrial Promotion and Policy under the Union Ministry of Commerce and Industry has approved a proposal to set up National Investment and Manufacturing Zone in 12,500 acres of land near Tumkur.
Karnataka State Industrial and Infrastructure Development Corporation Limited (KSIIDC) Managing Director P B Ramamurthy said, “We had proposed to set up the investment and manufacturing zone and the Union government has approved the project in principle. We are planning to set up a special purpose vehicle to oversee the implementation of the project as this is the biggest project being implemented in the state.”
He said the State government would have to invite tenders to allot works for preparing plans and identifying the industries which should be given priority, finding water source for the project and electricity in accordance with the provisions of the 2011 National Manufacturing Policy. These plans would again be submitted to the Union government for approval, he added.
“Though we have proposed to set up the National Investment and Manufacturing Zone in and around Vasanth Narasapura near Tumkur, we have not identified the boundaries. We will notify the entire extent to be acquired for the project. However, the land would be acquired in phases as and when the project would be implemented,” he said.
The state government is also planning to set up a Special Investment Region on 5,000 hectares of land near Dharwad and would very soon place the proposal before the Union government for its approval, he said.
Both projects are planned in the area identified as Peninsula Regional Industrial Development Corridor as the Union government has proposed to develop infrastructure to provide road and rail connectivity and other facilities to promote industrial development in the corridor.