Mangaluru : Ahead of Invest Dakshina Kannada and Invest Karnataka meets, the Dakshina Kannada district administration is expecting an investment of Rs. 700 crore, most of which will be in the tourism sector.

While Invest Dakshina Kannada is scheduled on January 12 in Mangaluru, the State-level meet is scheduled from February 3 to February 5 in Bengaluru.

Chairing a meeting of officials and organisations concerned, Deputy Commissioner A.B. Ibrahim on Thursday said that investments are expected in different industries and the tourism sector. Indian Oil Corporation has proposed to set up a LPG bottling plant in Mangaluru with an investment of about Rs. 100 crore. The company has sought allotment of 40 acres of land for the purpose, he said.

At the same time, the administration has sent a proposal to the government expressing interest in setting up a pharmaceutical park in the district, Mr. Ibrahim added. Invest Dakshina Kannada meet is a part of the roadshows being conducted for the Invest Karnataka meet.

On the other hand, about Rs. 250 crore investment is expected in the pharmaceutical sector and Rs. 25 crore in the steel sector, said N. Gokuldas Nayak, Joint Director of District Industries Centre, Mangaluru. He also told the meeting that NRI industrialist B.R. Shetty is planning to invest about Rs. 250 crore in the wellness and spa sector.

The Tourism Department has received six proposals worth about Rs. 60 crore from different parts of Dakshina Kannada, including a resort project in Mangaluru, said Clifford Lobo, Assistant Director of the department.