The Union government has given the green signal for a mega industrial park to come up in 3,500 acres of land in Kolar Gold Fields (KGF). Sources in the state industries department confirmed that the land will be handed over to the state government soon, according to IANS. The project is expected to lift the prospects of KGF region and Kolar district, a drought-prone, neighbouring district of Bengaluru.

Bharat Gold Mines Limited (BGML) stopped mining two decades ago at KGF and there is a long-pending demand from the state to allot the land of KGF where gold traces are not present for industrial purposes. After the amendment to the Mining Act, BGML has come under the jurisdiction of the state government, but the ownership of the land still lies with the Central government.

The Karnataka government thinks that if a mega industrial park comes up in KGF, it would attract industries that are being set up in neighbouring Andhra Pradesh.

Kolar district has the required land and proximity to Bengaluru to attract investments. The state government has demanded the allotment of land which is lying waste for the establishment of an industrial park.

The survey work will be completed in a week's time. As soon as the survey report reaches the Union government, the price will be fixed and after the payment the state government will get the ownership, the sources explained.

KGF is located 90 km away from Kempegowda International Airport in Bengaluru. It is also 250 to 300 km away from Chennai and Krishnapatnam ports which would benefit industries in KGF.

During the tenure of former Chief Minister BS Yediyurappa, the proposal made headway. During the meeting with Union Minister for Mining and Coal Pralhad Joshi, it was decided to conduct a survey on the presence of gold in 16,000 acres at the KGF. The survey has confirmed that there is no presence of gold in 3,500 acres.