New Delhi: The centre has cleared the third electronics manufacturing cluster for Karnataka, which will be set up in the Dharwad district, Minister of State of Electronics and IT Rajeev Chandrasekhar said on Friday.

According to the documents shared by the minister on Twitter, the electronics manufacturing cluster (EMC) project will cover an area of 224.5 acres at a cost of over Rs 179 crore, comprising central financial assistance of over Rs 89 crore.

EMC to spread over 2 villages

"Today a new Electronics Manufacturing Cluster in Hubli Dharwad is also approved - further expanding Karnataka's leadership in Electronics," Chandrasekhar said in a tweet. The EMC will be spread over two villages of Kotura and Belura, covering an area of 88.48 and 136.02 acres, respectively.

'New greenfield EMC is likely to catalyse investments of over Rs 1,500 cr'

An official statement said that the new greenfield EMC is likely to catalyse investments of over Rs 1,500 crore in the near future and generate employment for over 18,000 people. "Nine companies and start-ups have already committed to making an investment of Rs 340 crore with employment potential of 2,500 people," the statement said.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)