State clears Biocon's Rs. 1,060-cr. proposal.

The State government on Wednesday cleared biotechnology major Biocon Ltd.’s Rs. 1,060-crore investment proposal for setting up a pharmaceutical plant on the outskirts of the city. The proposed plant will manufacture injectables, monoclonal, and anti-bodies vaccines.

A meeting of the State High-Level Clearance Committee (SHLCC) chaired by Chief Minister Siddaramaiah cleared the proposal, which will generate jobs to 700 people in the plant to come up at Jigani in Anekal taluk. Biocon Ltd., publicly listed in 2004, is the country’s largest and fully-integrated, innovation-led biopharmaceutical company. The Bengaluru-based biotech company, headed by Kiran Mazumdar-Shaw, reported net profit of Rs. 896 crore for the 2016 financial year.

The 44th SHLCC meeting cleared total investment of Rs. 2,211 crore, which will generate employment to 8,820 people. The committee also approved Pepsico India Holdings Pvt. Ltd.’s Rs. 590-crore investment proposal to set up a beverages and snacks manufacturing unit at Adakanahalli in Nanjangud taluk of Mysuru district. The proposed plant will provide jobs to 900 persons, according to a statement issued by the State government.

The SHLCC cleared the expansion project of Manyata Promoters Pvt. Ltd., which involves investment of Rs. 561 crore.

The promoters will set up an Information Technology Park and allied infrastructure such as hotel, convention centre, retail and commercial space at Nagavara, Rachenahalli, and Tannisandra villages of Bengaluru. The Karnataka Industrial Area Development Board has granted lands to Manyata Promoters Pvt. Ltd. in the three villages.

Industries Minister R.V. Deshpande, Chief Secretary Aravind Jadhav, and Commerce and Industries Department Additional Chief Secretary Ratna Prabha attended the meeting.

Other projects

Total investment of Rs. 2,211 crore cleared; this will provide jobs to 8,820 people

Pepsico India Holdings Pvt. Ltd.’s Rs. 590-crore investment proposal approved

— Company to set up beverages and snacks manufacturing unit in Mysuru district

Manyata Promoters Pvt. Ltd.’s expansion project worth Rs. 561 crore gets nod

— Promoters to set up IT Park and allied infrastructure at Nagavara, Rachenahalli, and Tannisandra in Bengaluru

THE HINDU