Karnataka   

Pact with ONGC soon: Sindhia

By Our Special Correspondent

BANGALORE, JULY 31. The Minister for Industries, Infrastructure Development and Civil Aviation, P.G.R. Sindhia, today said that the State Government would enter into a major agreement with the Oil and Natural Gas Corporation, which would bring in an investment of Rs 30,000 crores to the State.

He told presspersons here today that the coalition Government had geared up to meet the challenges of the industrial sector and that plans were afoot to ensure that the State was investor-friendly.

Understanding

The understanding with the ONGC would enable a big development of gas-based industries in Dakshin Kannada, Hassan, Tumkur and Bangalore districts.

The ONGC was also expected to set up a gas-based power plant and discussions were in progress in this connection.

Mr. Sindhia said that an investors' meet would be held at Hassan shortly and this would be followed up with similar meets in other districts. The Government was also committed to establishing a special economic zone in Hassan. The Bangalore-based BIOCON had also agreed to set up a Rs 100-crore biotechnology unit at Hassan.

The Minister said that over the past two months (after the coalition Government took charge) a thorough study of the industrial sector had been made and the Government had focussed attention on a number of pending projects apart from promoting new projects. In the State budget, which was passed both Houses of the State legislature on Friday, the Government had made an allocation of Rs. 100 crores for the Bangalore International Airport at Devanahalli.

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