BELAGAVI: A new 73-km rail line between Belagavi and Dharwad via Kittur got the administrative approval of the state cabinet on Tuesday.
The new railway project will reduce the distance between Belagavi and Dharwad considerably and will come up at an estimated cost of Rs 927.4 crore.
The railway project will have 11 new railway stations including one in the historic Kittur town.
The travel time between Belagavi and Dharwad will be reduced to merely an hour compared to the three-hour travel time on the current rail line between the two cities.
Among several other projects, the cabinet also cleared Irrigation Department proposal to raise loans worth Rs 1,650 cr for agencies under it.
The Cabinet allowed Karnataka Neeravari Nigam Ltd (KNNL), Visvesvaraya Jala Nigam Ltd (VJNL), Cauvery Neeravari Nigam Ltd (CNNL) and Krishna Bhagya Jala Nigan Ltd (KBJNL) to raise term loans to the tune of Rs 1,650 cr with a government guarantee, according to sources.
A mega drinking water project for Haveri, Chief Minister's home district, also got then nod. The cabinet granted administrative approval for a drinking water project worth Rs 645 cr for Haveri which will be taken up by the Jal Jeevan Mission by the Rural Development and Panchayat Raj Department.
The project envisaged under Design, Build, Operate and Transfer model will provide water to 285 villages of Savanur, Shiggaon, Hanagal and Haveri taluks.
The Cabinet also cleared the Karnataka Industrial Area Development (Amendment) Bill, 2021. The project being implemented based on the recommendations of Dr DM Nanjundappa was named "Pradeshika Samathola Yojane" - Regional Balance Project.
A Venture Capital Fund worth Rs 100 cr was also cleared in the cabinet. The fund will be set up under the Department of Electronics, IT, BT, and Science and Technology.
It will be used to invest in startups involved in Artificial Intelligence, Machine Learning, Electric Vehicles and others that work on cutting edge new technologies, according to sources.