Govt to set up IUF with Rs 500 crore

Bangalore, June 4 (UNI) The Karnataka Government has decided to set up an Infrastructure Upgradation Fund (IUF) with Rs 500 crore for one time upgradation of infrastructure facilities in 157 industrial estates across the State, Karnataka State Industrial Infrastructure Development Corporation (KSIIDC) Managing Director Azeezulla Baig said today.

Participating in an interactive meeting organised by Federation of Karnataka Chamber of Commerce and Industry (FKCCI) here, he said an action plan had been drawn to complete the task of upgradation and submitted to the state government.

Mr Baig said the government would provide Rs 100 crore each year in the next five years for this purpose. KSIIDC would act as a nodal agency to take up the project. A sub-committee consisting of representatives from industrial bodies, local authorities and the government had been constituted for the purpose.

The upgradation would also be taken up in those industrial areas which were already handed over to local civil authorities.

"Weightage will be given to those industrial areas which comes in backward North Karnataka district." He said KSIIDC had also identified about 1100 acres of government land recovered from encroachers in Bangalore district for releasing it for industrial purposes.

The land identified in and around Bangalore were located at Anekal, Hoskote, Bangalore South and North and east taluks, he added.

The KSIIDC also plans to develop model townships with civic amenities and industrial sheds and estates. It had released Rs 42 crore to Karnataka Industrial Infrastructure Development Board (KIIDB) to acquire land for setting up new industrial areas in and around Bangalore.

UNI