ET BureauBANGALORE: The high-level committee on investments headed by Chief Minister Siddaramaiah on Thursday cleared all hurdles for Hero MotoCorp's proposed big-ticket investment in Dharwad district by approving a host of tax breaks.
“We will offer similar incentives to any major company keen to invest in industrially backward regions in the state,“ Revenue Minister V Srinivasa Prasad told media persons after the meeting.
“These incentives will also be extended to JBF PetroChemicals in Mangalore, Tata Motors in Dharwad and Rajashree Cements in Gulbarga,“ he said.
Opposition leader Jagadish Shettar and Arvind Bellad, who are BJP MLAs from Dharwad, had stepped up pressure on the chief minister to clear Hero MotoCorp's proposal following reports that Andhra CM N Chandrababu Naidu had made attempts to wrest the project to his state, part of which was carved out as the state of Telengana.
Hero proposes to invest up to Rs 2,000 crore to put up a bike manufacturing plant at Mammighatti village in Dharwad district with a long-term potential for 20,000 jobs. The facility will have an annual production capacity of 1.8 million units. The proposal includes a few ancillary units.
“We are very happy with the government decision. Very rarely does the north Karnataka region get this kind of an investment. I am sure this will spur further development of the region,“ said Shettar, a former chief minister. The project will provide jobs to about 10,000 people and lead to many ancillary units coming up in the region, he added.
India's largest two-wheeler maker has plants in Gurgaon, Haridwar, Rajasthan and Gujarat. Bellad had pitched with the Hero management for a plant in the south to help speed up supplies in the region. Dharwad district currently has two large projects from the Tata stable Tata Motors and Tata Marcopolo.
Asked about neighbouring Andhra Pradesh competing with the state for investments, the revenue minister said Karnataka will stay ahead and the chief minister has directed officials to speed up files related to investments.
“We will offer similar incentives to any major company keen to invest in industrially backward regions in the state,“ Revenue Minister V Srinivasa Prasad told media persons after the meeting.
“These incentives will also be extended to JBF PetroChemicals in Mangalore, Tata Motors in Dharwad and Rajashree Cements in Gulbarga,“ he said.
Opposition leader Jagadish Shettar and Arvind Bellad, who are BJP MLAs from Dharwad, had stepped up pressure on the chief minister to clear Hero MotoCorp's proposal following reports that Andhra CM N Chandrababu Naidu had made attempts to wrest the project to his state, part of which was carved out as the state of Telengana.
Hero proposes to invest up to Rs 2,000 crore to put up a bike manufacturing plant at Mammighatti village in Dharwad district with a long-term potential for 20,000 jobs. The facility will have an annual production capacity of 1.8 million units. The proposal includes a few ancillary units.
“We are very happy with the government decision. Very rarely does the north Karnataka region get this kind of an investment. I am sure this will spur further development of the region,“ said Shettar, a former chief minister. The project will provide jobs to about 10,000 people and lead to many ancillary units coming up in the region, he added.
India's largest two-wheeler maker has plants in Gurgaon, Haridwar, Rajasthan and Gujarat. Bellad had pitched with the Hero management for a plant in the south to help speed up supplies in the region. Dharwad district currently has two large projects from the Tata stable Tata Motors and Tata Marcopolo.
Asked about neighbouring Andhra Pradesh competing with the state for investments, the revenue minister said Karnataka will stay ahead and the chief minister has directed officials to speed up files related to investments.
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