Karnataka - Bangalore

KSFC to develop steel park in Koppal district

BANGALORE: Karnataka State Financial Corporation (KSFC), which earned a profit of Rs. 17.32 crore in 2006-07, has decided to develop a Steel Park on 190 acres in Koppal district.

Addressing presspersons here on Saturday, Deputy Chief Minister B. S. Yediyurappa, who also holds the Finance portfolio, said KSFC has been preparing a detailed project report which envisages establishment of units to roll out value-added steel products and a sponge iron ore plant. The park would be established with the participation of the Industries Department, Koppal district administration and entrepreneurs. Water to the proposed park would be supplied from Tungabhadra dam, Mr. Yediyurappa said.

The corporation, which has given impetus for infrastructure development, has been sanctioned 25 acres in Mysore and 10 acres in Harohalli in Bangalore Rural district to set up industrial parks.

It set a target to disburse loans amounting to Rs. 1,000 crore in the current financial year.

It had already sanctioned Rs 425 crore this year, he said.

The Finance Minister said the problems of small borrowers of KSFC had been addressed by introducing a Special One Time Settlement scheme.

All loans up to Rs. 10 lakh were extended interest waiver in different proportions. . The scheme would help 18,000 beneficiaries; already 2,400 of them have availed the facility, Mr. Yediyurappa said.

Scheduled Caste educated youth would get loans from KSFC at 4 per cent interest to set up industries.

A similar scheme was being examined for Scheduled Tribe entrepreneurs, the Deputy Chief Minister said.

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