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i-maritime Newsletter

Marg to invest Rs 4,000 cr in Karnataka - 2011-12-08

The Chennai-based port and real estate developer Marg Ltd has signed a MoU with the Government of Karnataka for developing and operating various infrastructure projects in agri, rural infrastructure and agri industry domains in Karnataka with a total investment of Rs 4,000 crore in the next 5-7 years.

The MoU aims at providing different urban amenities in the rural areas of the state including cold storage, supply chain management and warehouses, the company informed the stock exchanges. It was signed on the occasion of Global Agribusiness and Food Processing Summit-2011 held in Bangalore.

The important components of the projects are Agri Business Investment Region in Belgaum/Mysore, Knowledge Hubs/Agri Innovation Clusters in Mysore/Belgaum, Agri-Port with related back-up area development in Uttara Kannada district, Provision of Urban Amenities in Rural Areas (PURA) social innovations at Mysore/Belgaum/Bijapur/Bellary etc.

Marg had earlier signed a MoU for developing Bellary and Bijapur airports.

Source: Hindu Business Line