K'taka clears Rs 75k crore investment including Foxconn's project

Press Trust Of India

Bengaluru: The Kar nataka government on Monday approved 18 projects with a total investment of over Rs 75,000 crore, including a proposal by tech giant Apple's contract manufacturer Foxconn for Rs 8,000 crore.

Among the 18 projects that were approved by the State High-Level Clearance Committee, 10 are new, five are expansion projects, and three are additional projects with all the investment proposals expected to provide employment opportunities for 77,606 people. Investment projects worth Rs 75,393.57 crore are expected to further push industrial growth and generate direct and indirect employment opportunities in Karnataka, an official release said.

Foxconn Hon Hai Technology India Mega Development Private Limited (FHH) would invest Rs 8,000 crore with employment opportunities for 50,000 people, it said. A delegation led by Foxconn CEO and Chairman Young Liu had visited the state and had held a meeting with Chief Minister Bommai a fortnight ago in Bengaluru to discuss their proposal.