Karnataka is developing a new industrial hub at Chamarajanagar in the old Mysore region to attract investments from neighbouring Tamil Nadu, an official said Thursday.
"We have notified about 1,300 acres of land for acquisition at Chamarajanagar in the border district, which is closer to cities like Salem, Erode and Coimbatore in western Tamil Nadu, to develop textile and granite parks," Additional Chief Secretary M.N. Vidyashankar told reporters in Bangalore.
The industrial area, to be developed by the state-run Karnataka Industrial Areas Development Board (KIADB), will be spread across Kallabella and Badanakuppe villages in the backward district.
"We will soon conduct road shows in Tamil Nadu and Andhra Pradesh to woo investors to the new hub, which will also have Spices Park and Food Park as the region is rich in plantation commodities and horticulture.
"The chief minister (Siddaramaiah) will lead a delegation to Coimbatore Jan 20 to interact with prospective investors from the neighbouring state's western region, which has industrial towns like Salem and Erode," Vidyashankar said.
Located about 190 km from Bangalore and 40 km from Mysore across the southern Western Ghats, the border district has abundant natural resources such as black granite, manganese, garnet, danite, white stone and other minerals.
Agriculture is the backbone of its economy with a sown area of 175,000 hectares. Sugarcane, cotton and sericulture are some of the commercial crops growth in the region.
"The 300-acre granite park in the industrial hub has a potential to attract Rs.200 crore investment as 20 granite-processing units have already started operating and about 70 investors have shown interest to set up similar units," state Industries Commissioner M. Maheshwar Rao said on the occasion.
The state's single-window nodal agency (Karnataka Udyog Mitra) will sign agreements with prospective investors at the Coimbatore road show, where the Karnataka Chambers of Commerce and Industry (FKCCI) will hold an interactive session with stakeholders.
"An investors' meet will be held at Chamarajanagar in February third week to showcase the facilities and incentives being offered for setting up production and processing units in diverse verticals," said FKCCI president R. Shivakumar.