Karnataka to set up Rs500-crore infrastructure fund

Karnataka plans to launch around 190 infrastructure-related projects under public private partnership (PPP) mode under its upcoming infrastructure bill, the state's industries minister Murugesh Nirani said on Thursday.

''The infrastructure bill is expected to boost infrastructure projects; and the the highest government official will be in charge.

''The bill will also seek the creation of a Karnataka viability gap fund of Rs500 crore to aid these infrastructure projects, besides tapping on similar funds of the government of India,'' Nirani said at a function organised by the Bangalore Chamber of Industry and Commerce.

On the global investors' meet scheduled in Bangalore from 6-8 June, Nirani said over 10,000 business delegates would have the opportunity to interact and network with other business leaders as well as policy makers.

He said the state has initiated a unique land bank in which about 11,900 acres of land suitable for industries has been identified. The Karnataka Industrial Area Development Board has already initiated steps to acquire most of this land which will be offered to investors, he said.

Land banks and industrial parks are being established at the cities of Dharwad, Mysore, Mangalore and Gulbarga with financial incentives, he said.