Intel to invest Rs 1,100 crore in new Bengaluru unit

BENGALURU: Even as industries minister R V Deshpande has stayed away from sharing investment proposals cleared ahead of the global investor meet, Invest Karnataka, the State High Level Clearance Committee (SHLCC) chaired by CM Siddaramaiah has cleared four IT projects worth Rs 3,000 crore that are expected to generate nearly 40,000 jobs.
Chip maker Intel has committed to an investment of Rs 1,100 crore to set up a new building in an 8-acre facility on Outer Ring Road hat is expected to commence operations in 2019.The company said it would generate 3,000 jobs. Velankani Electronics is investing Rs 1,130 crore to set up an electronics product manufacturing facility on Hosur Road.
The project is expected to gener ate 2,400 people. Salatire Developers is setting up an IT SEZ on Outer Ring Road with an investment of Rs 463 crore with an employment potential of 25,000. Hical Technologies is investing Rs 95 crore to set up an engineering services unit within the KIADB aerospace park in Devanahalli.
IT minister S R Patil, industry minister R V Deshpande, and several other ministers and senior bureaucrats took part in the SHLCC meeting.