Bengaluru: Business bigwigs Biocon and Pepsico India will be setting up projects in Karnataka worth Rs 1,650 crore after acquiring a clearance from a high-level committee headed by Chief Minister Siddaramaiah on Wednesday.

Biocon Ltd, the Bengaluru-based biopharmaceutical company will invest Rs 1,060 crore employing 750 people. It has proposed to set up an injectable monoclonal antibodies production unit at Jigani in Anekal taluk, Bengaluru Urban district.

Pepsico will provide employment to 900 people with its Rs 590 crore project of beverage and snack manufacturing unit at Adakanahalli industrial area of Nanjungud taluk in Mysuru district.

The committee also cleared a proposal by Manyata Promoters to take up an expansion project at a cost of Rs 561 crore. As many as 7,170 people might be employed in the project that includes infrastructure development like IT park, including hotel, convention centre, retail and commercial space.