MARG, one of India's leading infrastructure companies, has inked a memorandum of understanding (MOU) with Government of Karnataka (GoK) on the occasion of Global Agribusiness and Food Processing Summit-2011 being held under Bounteous Karnataka. As part of the MOU, MARG proposes to develop and operate various projects and services in agri and rural infrastructure and agri-industry domains in Karnataka with a total investment of Rs 4,000 crore over the next 5-7 years.
As per the MOU, MARG intends to commence commercial production as per implementation and investment plan and will provide employment to local people as per the Karnataka Industrial Policy 2009-14. It will also promote local vendors for procurement of components and raw materials wherever possible.
The Government of Karnataka will endeavor to provide the required infrastructure facilities such as land, water, pipeline, roads, power etc. at prevailing rates and as per prevailing government policy on completion of the approval formalities. It will also provide on priority the necessary clearances and approvals for the proposed activity in accordance with the applicable rules and regulations and will assist the proposed unit in getting the approvals/clearances, if needed, from the state government/its agencies and/or central government/or its agencies.
Bounteous Karnataka is an initiative by Government of Karnataka in agribusiness to recognize that the sector needs to make sustainable use of land, water, and other key natural resources, while increasing supply to meet market demand. 'Bounteous Karnataka' seeks to harness the full potential of Karnataka's farming and rural sector.
MARG has previously signed a MOU for developing airport projects in Bellary and Bijapur under a Public Private Partnership with Government of Karnataka. The projects include terminal buildings, runways, control towers and access facilities cum utilities. Development of facilities, amenities and other infrastructure like an aviation academy, exhibition / convention centre, business parks, shopping mall, flying club, theme / entertainment parks etc. which would address the needs of the local population and tourists is also being planned. These 2 airports are envisioned as a giant leap towards bridging the gap between the potential growth locations and urban centers in the state of Karnataka.