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Karnataka chief minister Siddaramaiah on Monday announced that the state's first semiconductor project would come up at the Kochanahalli Electronics Manufacturing Cluster near Mysuru . ET Year-end Special Reads Gold outshines D-St with 20% returns, but 2025 may be different The year of the pause: How RBI maneuvered its policy in 2024 2024, the year India defeated China's salami-slicing strategy Silectric Semiconductor would set up its manufacturing unit at an investment of Rs 3,426 crore project at Kochanahalli, adding about 460 jobs . This is one of the nine projects approved on Monday by the state high-level clearance committee (SHLCC), chaired by Siddaramaiah.
These projects together account for a combined investment of Rs 9,823 crore with a potential to add 5,605 jobs. Three of them are new proposals while the rest are expansions or changes to existing plans. The CM urged the investors proposing to invest in the KIADB plots to commission their units within the committed schedules.
The government would impose a penalty if they fail to meet the commissioning timelines, he added. DN Solutions India has proposed Rs 998 crore investment at the ITIR, Devanahalli, which would add 467 jobs and Sansera Engineering would invest Rs 2,150 crore at Harohalli, which is estimated to create 3,500 jobs, an official statement from the Industries department said. Industries minister MB Patil and IT/BT minister Priyank Kharge attended the meeting.
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