The Global Investors Meet (GIM) was held in Bangalore Karnataka for 2 days on June 4 and June 5, 2010. Karnataka is the new land of opportunities. The mega event started off with a grand start not only fuelling hopes of an economic revival for not just Karnataka but for the entire nation.
- GAIL, the country’s leading natural gas transmission and distribution company, said it has firmed up its gas pipeline plans for Karnataka. With this Karnataka should be able to setup affordable gas based power projects. GAIL will lay two major pipelines through the state. The complany is implementing a 1413 km Dabhol (Maharastra)-Bangalore pipeline. It is scheduled to complete in March 2012. The second project will involve laying a pipeline from Palakkad to Bangalore with spurlines/feeder lines to Coimbatore, Tiruppur, Truchengode and Salem. It is expected to be completed by December 2013. GAIL has allocated Rs 6000 crore for the Karnataka projects.
- The pipeline will offer basic infrastructure to gas-based power projects. It will also supply gas to fertilizer and power plants coming tup near Bangalore and Mangalore in Karnataka and in Goa. The pipeline willl have an installed capactity to supply about 30 million metric standard cubic metre of gas daily.
- Aditya Birla Group: So far Rs 5000 crore has been invested in the state and the Aditya Birla Group is looking at investing an additional Rs 8500 crore. Two cement plants will come up in Bagalkot and Belgaum with an investment of Rs 6000 crore and Rs 2500 crore specialty alumnia plant will be rolled out at Harihar.
- Essar Group: Essar Steel is investing Rs 22,000 crore to setup a 6 MPTA-capacity carbon steel plant at Bagalkot, creating 9675 jobs. The group also plans to setup a 2000 MW gas based power project costing Rs 7000 crore.
- Zuari Group: The group will setup a 1.1 million tonne per annum, gas based uera plant in Belgaum (Rs 5000 crore [approx $1b]), a 1 mn tonne phosphate plant in Karwar (Rs 750 crore), a 3 mn tonne cement plant in Gularga (Rs 2500 crore), 76 acre residential project in Mysore.
- Anil Ambani’s Reliance Cementation proposes (MoU not signed during GIM) to set up a 5 MTPA cemeber plant at Chitradurga (Rs 2500 crore)
- Mukesh Ambani’s group proposes (MoU not signed during GIM) to lay a gas pipeline connecting Chennai-Bangalore-Mangalore (Rs 6700 crore)
- North Bangalore (near Devanhalli airport), a new IT zone will be built over 10,000 acres. This new IT zone is expected to attract investments upto Rs 1 trillion and will create 4 million jobs.
- Bramhani Industries Karnataka, promoted by the current Minister Janardhan Reddy will invest Rs 36,000 crore to setup a 6 million tonne steel plant in Bellary. On similar lines South Korean steel giant Posco will invest Rs 30,000 crore in Bagalkot.
- ArcelorMittal expects to be operational in 36 months if it managers to get clearances on time. It has already paid the govt Rs 260 crore for land acquisition.
- In total Steel industry has attracted an investment of Rs 200,000 crore in Karnataka during GIM (ArcelorMittal, Bhushan Steel, Surya Roshini)