Invest Karnataka 2016 to pitch Chittapur, Yadgir as potential investment hubs

YarnsandFibers News Bureau 2016-01-11 13:00:00 – Bengaluru

At the three-day Invest Karnataka 2016 to be held in Bengaluru from February 3, the proposed National Investment and Manufacturing Zone (NIMZ) at Chittapur and a textile park and industrial hub proposed at Badiyal-Kadechur would be showcased as potential hubs for investment.

Minister for Heavy Industries R.V. Deshpande Minister will chair a high-level meeting of officials and elected representatives on Monday to work out the modalities for pitching potential regions in the State as investment destinations at the meet.

The NIMZ would come up on 12,000 acres of land on the inter-State highway connecting Waghdhari in Maharashtra and Ripponpalli in Telangana and the park and industrial hub would be built on 3,232 acres of land.

While many industrial houses including Coca Cola and pharmaceutical units have evinced interest in investing in the Badiyal-Kadechur textile park and industrial hub, the State government wants to project the proposed NIMZ at Chittapur as the next major investment destination before investors from other parts of the country.

The government also proposes to highlight the incentives being offered to industrialists who propose to establish their units in Hyderabad Karnataka as per the new industrial policy.

Priyank Kharge, Chittapur MLA, said that the added advantage for investing in the NIMZ in Kalaburagi was the five-year tax holiday extended by the Union government.

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