MSEZ Chief Executive Officer (CEO) Suryanarayana V and ETAG MD Prakash Pereira exchange expression of interest between ETAG and MSEZ, in Mangaluru on Monday.
Credit: DH Photo
Mangaluru: An exchange of expression of interest (EOI) between Germany- based ETAG Energietechnik and Mangaluru Special Economic Zone Limited (MSEZ) to set up its production facilities in Mangaluru, was held at Hotel Ocean Pearl in Mangaluru, Karnataka on Monday.
ETAG Energietechnik, which will be set up in Mangaluru, is the Indian subsidiary of ETAG GmbH, headquartered in Egelsbach, Germany. As a key player in the energy solutions sector, ETAG is committed to advancing next-generation power technologies and hybrid super-fast electric vehicle (EV) charging infrastructure. The company will set up a state of the art technology, research and manufacturing facility in Mangaluru SEZ, said Prakash Pereira, Managing Director of European Technology Alliance Group (ETAG).
The skill talent and port facility near MSEZ makes Mangaluru a perfect hub for sustainable energy and next generation EV charging technology, he added.
The ETAG Energietechnik will be relocating its global headquarters and production facilities from the Middle East and Germany to Mangaluru. This strategic move will bring the company closer to its growing customer base in Asia and will enable it to further accelerate its innovation and expansion efforts.
The ETAG will invest approximately Rs 300 crore in research, product development, and manufacturing. The new facility is slated to commence operations in early 2026 and will provide employment to 100 to 150 people. Once operational, the MSEZ production facility is expected to generate annual exports worth USD 110 million, further enhancing India's position in the global manufacturing and export landscape.
"With Dakshina Kannada (DK) MP Capt Brijesh Chowta’s initiative of 'Back to Ooru,' I want to contribute towards making Mangaluru great," said Pereira.
MSEZ Chief Executive Officer (CEO) Suryanarayana V said the ETAG has sought three acres of land for setting up its unit.
The DK MP has been promoting and inviting investors to Mangaluru through the 'Back to Ooru' initiative.
DK MP Capt Brijesh Chowta said that he has been acquainted with Prakash Pereira for the past five years and I invited him to contribute to the development of Mangaluru. The investment will help in “Make in Kudla” contributing to "Make in India" envisioned by Prime Minister Narendra Modi.
As a part of 'Back to Ooru,' the MP office and Kanara Chamber of Commerce and Industry (KCCI) will have a joint mechanism to promote it by inviting Mangaluru origin entrepreneurs or those in high positions in various industries to come back to their hometown and invest. “A delegation will visit Bengaluru, Pune, Mumbai, and the Middle East to meet the entrepreneurs of Mangaluru origin to invite them to invest in Mangaluru, thus contributing to the growth of the region," said Capt Chowta.
‘Be your own boss’
Furthermore, the MP announced that the 'Be your own boss' initiative will be taken up shortly to support entrepreneurs who do not have access to resources. Around nine budding entrepreneurs will be supported through this initiative and expected to be launched in a month.
ETAG CEO Jyothi Pereira, CA Nithin J Shetty and others were present.