BENGALURU: THE state high-level clearance committee has cleared Rs 3,596 crore worth of investments on Saturday. The committee has cleared Rs 810 crore of investment by Ikea, the European furniture retailer. The company has been allocated 10 acres and 11 guntas of land of BMRCL at Nagasandra village in Yeshwantpur hobli. The Ikea store will come up right next to Nagasandra Metro Station and will provide employment to 1,050 people.
TVS Motors will be setting up a two-wheeler manufacturing unit on 20 acres of land at Bythahalli village in Mysuru. With an investment of Rs 1,110 crore, the company will be providing employment to 800 people.
Other two companies whose projects have been approved are Mangalore Refinery and Petrochemicals Ltd who will be setting up a ethanol plant on 50 acres land in Hanagawadi Industrial area in Davanagere at a cost of Rs 966 crore. Shahi Exports will also be setting up a textile weaving, processing and printing unit at a cost of Rs 710 crore at Nidhige Industrial area, Shivamogga and will be employing 2,440 people.
1,050
People will be employed in the Ikea store that will come up soon
800
The number of people who will get jobs at the TVS plant near Mysuru