M'lore to be developed to attract NRI investment

Mangalore, Sept 16: The Karnataka Government will provide all required infrastructural facilities in Mangalore to develop it as the next sought after city after Bangalore to attract more investments from Non-Resident Indians, Deputy Chief Minister B S Yediyurappa asserted today.

Presenting the 'Business awards-2006' of Kanara Chamber of Commerce and Industry here, he said during his recent visit to the United States, about 700 NRIs had evinced a keen interest in investing in cities like Mangalore if the required facilities were made available by the Government. The Government was keen to develop the coastal city and take up steps for the promotion of several sectors, including tourism, industrial, information technology, export and all weather fisheries port.

The Deputy Chief Minister said the Government had also decided to develop cities like Mysore, Shimoga, Hubli and Mangalore. It had also started the process of acquiring land for airport in Shimoga.

The international airport near Mangalore was scheduled to be operational from October three. The Government had also agreed to release Rs 30 crore for the second vented dam at Thumbe to meet the drinking water requirements of the city. It had also taken up steps for creating a coastal special economic zone here with an expected investment of about Rs one lakh crore, boosting the economic growth of the region.

Mr Yediyurappa, also holding the Finance portfolio, said that since assuming office, the Government had cleared projects with a total investment of Rs 90,000 crore in the State. In addition to making financial provisions for all programmes announced in the budget, it had earmarked an additional of Rs 1,000 crore towards a special scheme. Besides, during the last seven months, the Government had not gone in for any overdraft, he added.

He said the Planning Commission had commended the economic growth of the State by giving it the number one status. The State aimed at achieving 20 per cent export growth from the present 15 per cent, and nine per cent production growth by the end of the year.

With the new industrial policy for 2007-11 announced by the Government, Mr Yediyurappa predicted that there would be revolutionary changes in the industrial sector in the State within the next six months. The Government had also taken necessary steps to plug tax revenue losses. If land grabbing in and around Bangalore was checked, it would fetch more tax revenue, he added.

He assured that the State Government would release the required funds for taking up repair works of the totally damaged roads of NH-17 and 48, if the Centre failed to do so.

UNI