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Karnataka govt receives investment proposal worth ₹1.74 lakh crore | Mint – Mint

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2 years ago

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In the first such move, Karnataka Government has approved projects worth over ₹1.74 lakh crore in the state in its 60th meeting of the State High-Level Clearance Committee (SHLCC), headed by Chief Minister Basavaraj Bommai. The committee approved eight projects mostly in the clean energy sector out of which 8 are new while 3 are additional projects.

The investment projects are expected to further push industrial growth and generate direct and indirect employment opportunities in Karnataka. A total of 41,448 people could get employment out of the investment projects.

The development was also informed through the Karnataka Chief Minister’s official Twitter handle, it tweeted, “The 60th meeting of the State High-Level Clearance Committee, approved 11 projects which will bring investment proposals worth Rs. 1,74,381.44 crores to Karnataka. It will also generate more than 41,000 job opportunities”

Karnataka Chief Minister while talking about the developments said, “Green energy is the future. In this regard, the proposals for green hydrogen and ethanol production companies in the state have been approved in the meeting. Karnataka’s contribution to the share of the green hydrogen export will be high in the country and it will start in 2026,”

“In order to encourage green hydrogen production we have approved proposals from Acme Clean Tech Solutions Pvt. Ltd, JSW Green Hydrogen Ltd. Avada Ventures Pvt. Ltd and Renew E-Fuels private. We are happy that the state has received such a huge investment ahead of Global Investor’s Meet. This has indeed raised our expectations,”

“Karnataka is the third largest sugarcane growing state in the country and also is the highest producer of ethanol. We are glad that the green energy sector investment proposals have been approved in today’s meeting,” The Chief Minister added while speaking at the meeting 

The companies whose proposals were cleared include, ACME Cleantech Solutions Private Limited, Haryana – ₹51,865 crore; Avaada Ventures Pvt Ltd, Mumbai – ₹45,000 crore; JSW GREEN HYDROGEN LIMITED, Ballari – ₹40,148 crore; ReNew E-Fuels Private Limited, Gurgaon – ₹20,000 crore; Atria Power Holdings Pvt. Ltd., Bengaluru – ₹9,454 crore; Kirloskar Ferrous Industries Ltd, Koppal – ₹3,025 crore; JSW NEO ENERGY LIMITED, Mumbai – ₹2,579 crore; and Continental Automotive Components (India) Pvt. Ltd, Bengaluru- ₹920 crore. 

While the companies with the additional investments include Toyota Kirloskar Motor Private Limited, Ramanagara – ₹511 crore; G M Sugar and Energy Ltd., Bangalore – ₹49.44 crore; and Resources Pellets Concentrates Pvt. Ltd., Bellary – ₹830 crore.

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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October 16, 2024

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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S&P/TSX up more than 200 points, U.S. markets also higher

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October 11, 2024

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

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October 10, 2024

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TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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