Bangalore - Annual Global Investors Meet

[engineer.akash]

Name: Vijay Mallya
Company: United Breweries
Interested in: Manufacturing beer
Location: Nanjangud
Investment: Rs 45 crore
New son-of-the-soil UB Group chairman Vijay Mallya said, “I am extremely proud and somewhat privileged to be a ‘Mannina Magaa’ (son of the soil).”

That title has so far been the preserve of former PM D Deve Gowda.

He described how on a promotional tour of the US, long before Bangalore was known as ‘IT capital of India’, he described Bangalore as India’s ‘knowledge capital’.

“I am one of the largest contributors to the state exchequer. Because the state wants the revenues, I expand more and more. Of all states, I would rate Karnataka on top,” he said.

source
Vijay Mallya saibru Mysore na Liquor city madbid tharae.....

Bacardi Martini is already brewing in Mysore and now with UB group in the arena..........

[gentem]

We want 11.30pm deadline extention soon

[HedonistAtBlr]

Originally Posted by avinash2060

—ET

Hahaha! Mallya doesn't look very happy being the poorest person in the photo

[nandan_ks]

Originally Posted by HedonistAtBlr

Hahaha! Mallya doesn't look very happy being the poorest person in the photo

ha ha haha .... but its only his industry that is more recession proof than others

[kp.muthu99]

Feel so proud to be kannadiga , namma Karnakata is progressing so fast , hope we produce enough employment so that none of our son's of soil has to go out to beg for employment and soon it will be a reality ..

cheers brothers .

http://www.projectsmonitor.com/STEEL...investors-meet

Over 40 memorandum of understandings for an investment of nearly Rs 3 lakh crore in Karnataka were signed on the first day of the two-day Global Investors' Meet (GIM). Four of the biggest MoUs are in the steel sector with captive power plants envisaging a total investment of Rs 1.18 lakh crore.

World's largest steel maker ArcelorMittal signed the MoU for a six million tonnes per annum (TPA) steel plant in the mining district of Bellary at an estimated cost of Rs 30,000 crore. Karnataka project will be given priority as the company’s two other steel projects in Jharkhand and Orissa are delayed due to land issues and other approvals.

The other companies who signed the MoUs for steel plants are Brahmani Industries Karnataka Ltd (Rs 36,000 crore), Bhushan Steel Ltd (Rs 27,928 crore) and Surya Vijayanagar Steel & Power Ltd (Rs 24,000 crore).

Earlier, the Karnataka government had approved investment proposals worth Rs 336,185 crore, with iron and steel sector taking the major share of Rs 2.20 lakh crore, followed by power (Rs 79, 140 crore), IT/BT (Rs 19, 188 crore) and cement (Rs 17, 857 crore). The first GIM held in 2000 had attracted global investments worth Rs 27,000 crore. Besides the core infrastructure sector, the state government is confident of getting assured investments in aerospace and automobile, agro and food processing and tourism sectors.

[engineer.akash]

We will invest significantly in Karnataka: Kumar Mangalam Birla

India Infoline News Service / 16:41 , Jun 03, 2010

In our experience as large investors in the state, the government’s progressive attitude towards infrastructure, health and education, coupled with a strong industrial base has powered Karnataka as one of the fastest growing states in India.

I believe Karnataka represents a fine example of what our country can achieve when there is a fusion of entrepreneurial energy with sound, competent and forward looking governance.

Under the dynamic leadership of Chief Minister Yeddyurappa, Karnataka occupies a pre-eminent position on the industrial and business map of India. In our experience as large investors in the state, the government’s progressive attitude towards infrastructure, health and education, coupled with a strong industrial base has powered Karnataka as one of the fastest growing states in India.

To share our perspective briefly: The government has been able to provide a highly enabling environment for investors through an attractive package of incentives and concessions, while encouraging and helping existing industries to take up expansions and modernizations with speed. The pro-active and entrepreneurial climate means that Karnataka is on its way to becoming a preferred destination for investment for Groups like ours. We have been, and will continue to, invest significantly in all of our businesses in the state.

Along with its focus on business and industry, the Karnataka government pursues many measures benefitting the under privileged sections of the society and also the environment. This all round and holistic approach, pursued with rigor, can position Karnataka as a role model for inclusive growth.

My compliments to the Honourable Chief Minister, and his team, for their vision and foresight in moving Karnataka to the forefront of economic and social development.

While Karnataka has shot to global fame as “The Silicon Valley of Asia” and is high on the road to becoming a knowledge hub, it has never lagged behind in the core sectors. Most of the manufacturing sectors have registered exponential growth as well.

We, in the Aditya Birla Group, are proud to partner its progress. Our tryst with Karnataka goes back to the early 1970s when my father set up the country’s first Pulp and Fibre plant at Harihar in Central Karnataka.

Since then there has been no looking back. We have grown very significantly and in diverse sectors. From Fibre to Cement, Alumina, Branded Apparel, BPO, Financial Services, Mobile Telephony and Retail. Among our major plants are Grasim’s - Pulp and Fibre Plants at Harihar, Hindalco’s - Alumina Plant in Belgaum, our Group’s first Cement Plant in Malkhed, 10 Ready Mix Cement Plants and 8 apparel manufacturing factories, among others.

Our growth has been both organic and inorganic. Through major acquisitions, we ventured into the branded apparel, IT Services and BPO. We also bolstered our presence in mobile telephony and financial services. Our Group is a major player in Financial Services. In Karnataka, we have 64 offices and over 9,500 agents in Insurance alone. And the numbers will go up.

We have invested considerably in Karnataka in terms of financial resources, manpower development and management time to spur the growth of our businesses. We have almost 20,000 employees on our rolls. Through ancillarisation, we have created work for approximately another 30,000 people.

Our investments so far have been above Rs.5,000 crores in our multiple plants in this State. We are very buoyant on Karnataka, given the enabling growth environment and incentives for expansion modernization and diversification. In the near future our growth plans entail an investment in excess of Rs.8,500 crores.

Let me share a few highlights.

In Cement, in Karnataka we have a 3.2 million ton Cement Plant in Malkhed apart from 10 Readymix Concrete Plants. At Malkhed, we are planning for an additional 4.3 million ton cement capacity at an investment of Rs.3,000 crores. Furthermore, we intend putting up new cement plants in South Karnataka at a CAPEX of an additional Rs.3,000 crores, on acquiring the necessary mining and land leases. So in cement alone, our future capex is Rs.6,000 crores.

At Belgaum, we are actively pursuing the expansion of our specialty alumina capacity from 149 KTPA to 356 KTPA – more than doubling it. Along with it, we will need to set up a captive power plant and other infrastructural facilities. The overall investment in Belgaum would be to the tune of Rs.500 crores.

Idea services cover 83% of Karnataka’s total population. Here, we have nearly 2.70 million customers, straddling 2,300 towns and 16,000 villages. Idea provides the second widest network coverage with 90% of its sites are EDGE enabled. As Karnataka is a major focus area for Idea, in the near future we plan to bring over 90% of Karnataka’s total population under coverage. This will be at an additional investment of Rs.1,000 crores.

Currently, we have 123 Supermarkets under the Aditya Birla Retail chain and
2 hypermarkets in Karnataka. Going forward, we will scale it to 172 supermarkets and 10 hypermarkets, at an investment of Rs.525 crores.

At Harihar a brownfield expansion at our Viscose Staple Fibre Plant, at a cost of Rs.350 crores is underway.

Madura Garments, a division of Aditya Birla Nuvo, has been continuously voted India’s most admired apparel company. The Company has been among the pioneers in making Karnataka, the heart of apparel manufacturing and branding. We already have 8 factories, 5 of which cater to discerning customers in India. For exports to the US and EU, we have 3 dedicated factories. We have 28 stores in the State. Over the next 4 years, we plan to double Madura Garments’ capacity at an incremental investment of Rs.200 crores in manufacturing.

While currently these expansions are on the anvil, we might spend even more Rs.8,500 crores, depending on emerging opportunities.

Importantly, our expansion plans offer an employment potential of nearly 15,000 people, as our projects fructify.

I am pleased to inform you that the Government of Karnataka and all related establishments have been most encouraging. We have been able to obtain Regulatory clearances on time.

Beyond Business
Importantly, beyond business, we reach out to the underprivileged sections of the society in proximity to our Plants. In Karnataka, through our projects in education, health-care, sustainable livelihood, sustainable development, agricultural productivity, and vocational training programmes, we reach out to nearly 4 lakh people. These projects are carried out under the aegis of the Aditya Birla Centre for Community Initiatives and Rural Development, which is spearheaded by my mother.

Let me conclude by saying that all of us in the Aditya Birla Group look forward to an even more illustrious and prosperous Karnataka and within it our growth. Once again thank you so much Shri. Yeddyurappa and your team for your unequivocal commitment to the growth of business in Karnataka.

Kumar Mangalam Birla, Chairman of the Aditya Birla Group’s speech at the “Advantage Karnataka” Global Investors meet on the 3rd of June 2010 at Bengaluru, Karnataka.

source

[thewanderer]

BANGALORE: The visiting delegates from Bangalore and outside were given a feel of the Bangalore Metro rail, which is scheduled to start operations by December 2010, at the Metro stall of GIM on Thursday.


Bangalore Metro Rail Corporation (BMRCL), which is looking for investments for the second phase of the project, exhibited a dummy coach that provided a virtual feel of a real metro coach. “We got the glimpse, what we can expect and when the metro starts operations in the city,” an enthusiastic participant said.

BMRCL, however, has more in store for the residents of the city. “By July, Bangaloreans will be able to get a glimpse of the real metro coach through which they will be travelling,” GS Cylesh, manager (IT) of BMRCL said. A metro coach will be on display ‘most probably’ on the MG Road metro rail stretch, Cylesh said.

Several foreign companies, including some Korean ones were seen making a beeline to the Metro stall. The first rail coach that will be on display will arrive from South Korea. The project was bagged by a consortium comprising of BEML, South Korean company Rotom and Japanese company Mitsubishi, the official informed.

Source

[ashwinsna]

Originally Posted by NParry

There's only a 50% actualization rate for any MOUs between the public and private sectors. Employment generation will also be less than half of projected figures, but I guess all of this makes for good press.

EVen 50 % achievement is a success for GIM, anything more than 30 % success rate i would call that good progress, mind you the yardstick fo measurement for these kind of projects all over the world is never 100 % .

[sudheeshnairs]

Yes..

First of all it is the general ‘Image’ which the state gives out to the industry leaders. It gives more visibility to the city and the state as a prospective investment destination.

You have to start somewhere. Thinking that nothing will materialize and simply sitting idle will not yield results.

Bangalore and Karnataka are in the limelight these days. Keep up the good work BSY and team.

[engineer.akash]

I am back from a mega tour of Belgaum and Hubli -Dharwad districts.Belgaum city especially is looking really beautiful,every 80 feet road is being made 4 lane with nice median lamps and pavements...Thanks to the unofficial second capital status accorded to the city by BSY/Belgaum city is looking mast.........Hubli-Dharwad cities have stunningly utilized funds to upgrade roads in the city,Hubli-Dharwad now boast of two good lakes Unkal and Kalegiri both developed during BJP's tenure.Gokul road is looking so so beautiful-clean and modern with so many commercial spaces.

I am not just talking about the cities even villages have concrete roads..I had been to temples in Belgaum district which were located in Villages,I was impressed by the cleanliness and the neat concrete road works/canal works/MGREG/Pradhan mantri grameen sadak yojana/water supply....I can definitely say BSY and his team deserves 1000 stars for their good works.Not to forget the dense telecom towers

[nandan_ks]

Originally Posted by ashwinsna

EVen 50 % achievement is a success for GIM, anything more than 30 % success rate i would call that good progress, mind you the yardstick fo measurement for these kind of projects all over the world is never 100 % .

Completely agree with you.... I glad that Yeddy is atleast taking such initiative. Even if all the projects for which MOUs were signed, doesnt materialise, at least it has sent out a message, that this government is Pro-Development.
Kudos to Yeddy

[engineer.akash]

Originally Posted by nandan_ks

Completely agree with you.... I glad that Yeddy is atleast taking such initiative. Even if all the projects for which MOUs were signed, doesnt materialise, at least it has sent out a message, that this government is Pro-Development.
Kudos to Yeddy

Hold on friends BJP has just entered the second year of its tenure and we have PPP project like Gulbarga Airport Deve Ltd(GADL) likewise we have SADL(Shimoga)..

Nandan you wont believe how mind blowing shimoga looks now..... 10 KM approach road to Shimoga either side is neatly 4 laned.Most of the roads are under concreting process,with new private bus stands and KSRTC bus stands,lakes developements,airport etc etc.....Same goes with small places like Ranebennur whole town is looking clean ......

Bellary has developed the most-Ring road of hi standard,road tarred every corner of the city,Green field Airport(PPP)-bRAIN CHILD OF jANNARDHAN REDDY etc etc.......BSY truly rocks

[nandan_ks]

Akash, I'm starting to Shimoga in another few hours, will get a first hand report on all these developments and try to capture them through my camera

[engineer.akash]

Originally Posted by nandan_ks

Akash, I'm starting to Shimoga in another few hours, will get a first hand report on all these developments and try to capture them through my camera

plzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz Take day pics.....

[engineer.akash]

Fertilizer Project


Company : ZUARI FERTILIZERS AND CHEMICALS LTD.,

Address : Jubliee Bldg. 45, 3Rd Floor, Museum Road, P.B. No. 25075

Bangalore

Location : Mastihole Village, Hukkeri Tq. Belgaum

Project : Urea

Investment in Rs Crore : 4565

Employment : 1560

SOURCE

[engineer.akash]

Vishwaraj Infrastructure Pvt. Ltd.
Proposed investment – Rs.4,100 crores.
Project Details – To establish 1000 MW Gas based power plant and Development of Composite Industries.
Location - Hukeri Taluk, Belgaum District
Employment Generation – 5,500
Signatory to MOU from Govt – Additional Chief Secretary, Energy Department.
Signatory to MOU from company –

GAIL GAS PIPELINE FROM DHABOL WILL PASS THROUGH BELGAUM
source

[nandan_ks]

BANGALORE, JUN 4: As the curtains came down on the Global Investors’ Meet, Karnataka notched up a record investment of Rs 4 Lac crore with the signing of 361 Memoranda of Understanding (MoUs) in a wide and diverse range of sectors from aerospace to textiles, steel, cement, power, food processing, tourism, health to infrastructure promsing to provide direct employment opportunities to a record 8.9 Lac persons and indirect employment to another 2 Lac persons

Even as the Karnataka Chief Minister B S Yeddyurappa and his dynamic large and medium industries minister Murugesh R Nirani, who led from the front in ensuring the success of GIM, were rightly basking in the glory at their achievement, the state government received assurances of full support from the Centre. If Union Law Minister Veerappa Moily and Union Food Processing Minister Subodh Kant Sahai expressed their support at the inaugural function on Thursday, it was the turn of Union Labour Minister Mallikarjuna Kharge to promise all help from the Centre at the valedictory function on Friday.

The Chief Minister, in his valedictory address, made it clear that the signing of MoUs or the total volume of investments generated was only a first step in the long journey in the path of Karnataka’s industrial progress. ``A new era of industrial revolution of Karnataka has begun,” he said.

"The Government would not spare any efforts in keeping its promises to the investors or meeting the deadlines. While the chief secretary and he himself will be regularly reviewing the progress in the implementation of the project, the commerce and industry department will be doing its own follow-up measures,” he said promising that the Government would take every possible steps to cut red-tapism and procedural bottlenecks.

"If you grow and prosper, Karnataka will also benefit because the success and prosperity of the industry would lead to the State’s prosperity. Karnataka’s progress lies in your progress,” he said pointing out that the industrial growth would lead all round development of the state and help the government in continuing with its programme of inclusive growth and the development of the agriculture sector.
Union Labour Minister Mallikarjuna Kharge, in his valedictory address, complimented the Yeddyurappa regime for its pro-active approach and industry-friendly policies and made it clear that it was imperative to build and improve existing infrastructure, roads and highways, develop the power sector and strengthen the resources like irrigation.

``There are no short-cuts in this approach and unless we put all this relevant infrastructure in place, we cannot think that an investor will have confidence to come and set up industry in the state,” he said while pointing out that investors should always bear in mind that sharing of global wealth was not exploitation of the less fortunate sections of people or countries. Inclusive growth

Kharge said the pragmatic and industry-friendly policies of the first Prime Minister Jawaharlal Nehru, while laying the foundation of modern India, in encouraging public sector and infrastructure projects in irrigation, power and steel sectors in the public, joint, cooperative and private sectors and followed by successive governments had largely insulated India from the evil effects of global economic meltdown. The Government realizes that it was important to have regulatory bodies that can instill confidence in the public and industry. ``The objective is not to over regulate but to simplify and strengthen laws in order to create a more conducive investment environment,” he said.

It was necessary to focus on upgrading the skills of labour force and all other stake-holders in the present context of liberalization, globalization and changed economic scenario, he said pointing out that over 400 institutes were being upgraded with World Bank assistance and another 1,396 institutes through public-private partnership. ``By 2022, India will create 500 million skilled workers under the scheme,” he said calling for industry should join hands with the government on the public-private partnership model.

Dr K V Raju, economic advisor to the Chief Minister, in his over-view on the entire GIM exercise said the tremendous response from the industry and investors had given a big boost to the government. While a total of 361 MoUs involving a total investment of Rs 4 Lac crore were signed during the two days of GIM, he said as many as 66 companies came forward to sign MoUs during the last two days with Rs 50,000 crore investment.

``A new era of industrial development has begun in the State,” said Karnataka’s large and medium industry minister Murugesh R Nirani, pointing out that the State will reap rich dividends. ``Development of all-round economic activities, new employment generation and infrastructure facilities will happen throughout the State. The GIM will generate additional revenue to the state exchequer and will be an important milestone in Karnataka’s developmental history,” he added.

SOURCE: DAIJIWORLD

[R2IChennai]

Originally Posted by ashwinsna

EVen 50 % achievement is a success for GIM, anything more than 30 % success rate i would call that good progress, mind you the yardstick fo measurement for these kind of projects all over the world is never 100 % .

Most of the investments are meant to come, GIM is just an event to showcase it to the world to attract attention. I am glad to see so much investment happening in North Karnataka.

[avinash2060]

* If all investment promises come to fruition, as many as 850,000 jobs will be created in the state

Bnagalore: Karnataka signed 353 agreements with investors who promised to spend as much as Rs4.5 trillion at a two-day global investors meet that ended on Friday.

If the promises are realized, it would create around 850,000 jobs in sectors ranging from steel, cement, auto to energy and information technology.

“This has been a landmark event in the industrial growth of Karnataka,” chief minister B.S. Yeddyurappa said. “The good part is that most of the larger investors showed keen intent to make it work.”

This initiative by Karnataka comes after the success of Vibrant Gujarat, a similar meet through which that state attracted Rs7.5 trillion in investment last year.

Steel makers including ArcelorMittal, the world’s largest steel producer, South Korea’s Posco and Tata Metaliks Ltd promised to build as many as 41 plants.

“Karnataka is more global than any other state in India and we are planning many more projects here, including hotels and infrastructure,” said B. Muthuraman, vice-president, Tata Steel Ltd.

Energy firms followed steel with 24 project proposals. About 20% of the promised investment would be made by overseas investors.

The state government said it expected at least 55% of the promised investment to achieve completion.

Karnataka has in the past week been approached with another 56 new project proposals worth Rs78,395 crore, which will be considered at a meeting later this month.

On education, the government of Victoria, Australia, signed an agreement with Karnataka on Friday to jointly offer vocational training and education.

A new information technology investment region will come up on 10,000 acres in north Bangalore, close to the Devanahalli airport, the state government said.

“This project will also attract Rs1 trillion of investments, bringing four million job opportunities,” said state IT minister Katta Subramanya Naidu.

Separately, US car maker General Motors said it would either launch or showcase an electric vehicle in the Indian market next year, its India chief Karl Slym told reporters at the meet on Friday.

[arunpr]

http://www.hindu.com/2010/06/01/stor...0159580400.htm

http://www.thehindu.com/2010/06/03/s...0358430400.htm

Vatal arrested for protesting against Global Investors Meet


Bangalore: The former MLA Vatal Nagaraj, leader of the Kannada Chaluvali Vatal Paksha, was arrested near Kempe Gowda Bus Station here on Wednesday after he tried to hold a “donkeys meet” against the Global Investors Meet (GIM).

The Upparpet police arrested the Kannada chauvinist immediately after his arrival near the bus stand, along with his supporters. The police said that they arrested Mr. Nagaraj for allegedly trying to protest without obtaining permission from the police.

The GIM is to take place here on June 3 and 4. Mr. Nagaraj said: “The GIM was only a way for the Government to hide its mistakes over the last two years and to sell off public property.”

The police were waiting for Mr. Nagaraj and his supporters. Soon after he leader stepped out of a car, the police surrounded and arrested them. There were no donkeys when Mr. Nagaraj and his supporters reached the protest venue. According to the party sources, donkeys were on the way to the protest venue. But, after the arrests, the owners were told to return with their donkeys.

Protest today

Several progressive organisations have expressed fear about the impact of rapid industrialisation on environment, socio and economic conditions of people. A protest has been planned against the GIM in front of Town Hall on Thursday.

Stating that the Government was misleading with the job generation figures following the investment proposals, these organisations have said that more than 7.5 lakh people dependent on agriculture land for their livelihood are set to lose their employment since the land was being acquired for industrial purposes.

On Wednesday, addressing presspersons, representatives of Peoples Solidarity Concerns, People's Union for Civil Liberties (PUCL), Pedestrian Pictures, National Alliance for Peoples Movement, Stree Jagruthi Samithi and Nava Samajawadi Paryaya, said that this rapid industrialisation entailing an investment of about Rs. 3 lakh crore would put pressure on the power and water resources in the State. A large section of the rural population in rural areas is living without power and proper water supply, they added.