Industrial Finance Corporation of India plans to invest Rs. 1,000 crore to set a base in the proposed global financial district near Devanahalli on city outskirts, Karnataka Minister for Large and Medium Industries Murugesh R. Nirani said on Wednesday.
IFCI’s facility would come up on 50 acres of the total 150-acre district, where more than a dozen banks, including global ones, have evinced interest to set up operations, besides insurance firms, financial institutions and stock market operators, he told reporters here.
The banks include State Bank of India, Punjab National Bank and Bank of India, he said.
Commerce and Industry Secretary V. P. Baligar said for creating a land bank for industrialisation, the Government has already notified nearly 54,000 acres of land, while another 38,000 acres had been identified.
Mr. Baligar said seven new industrial estates would be established in the state under public—private—partnership model, and each of these had attracted three private bidders who responded by way of expression of interest.
“The Government would issue expression of interest to form another 12 industrial estates under PPP”, he said.
He also said hearing would be held next week on the issue of new mining leases pertaining to 300 hectares.
Existing and new mines can support about 50 million tonnes of steel—making per annum in the state.
Mr. Baligar also said there was a proposal to desilt the Tungabhadra River to provide water to some of the industries, as also to create check—dams downstream.
He said at the global investors’ meet being organised by the State Government in June, Rs. One lakh crore worth of PPP projects in infrastructure sector would be available for investors.
