JOIN USKarnataka inks investment pacts worth Rs 28,000 crore
The B S Yediyurappa administration on Thursday inked agreements with 23 companies for a cumulative investment of Rs 28,000 crore and they are expected to generate 15,000 direct employment opportunities in the state.
The memorandums of understanding were signed at an Invest Karnataka conclave organized by the state government.
Among the MoUs signed include one with the Gautam Adani-led Adani Group worth Rs 5,000 crore to set up data centres across the state. Then, the government signed a deal worth Rs 4,015 crore with US-based lithium-ion cell manufacturer C4V and another one with Singapore-based liquid natural gas terminal operator LNG Alliance for Rs 2,250 crore.
Other MoUs were signed with companies from sectors such as electric vehicles, aerospace and defence.
Speaking at the event, Chief Minister BS Yediyurappa said that the state government had cleared over 520 projects with an investment of around Rs 77,000 crore in multiple sectors since March 2020. "Additionally, there are proposals and MoUs submitted worth Rs 23,000 crore, taking the total investment to Rs 1 lakh crore," he said, adding that it reflected the "strong commitment of investors" towards Karnataka despite the challenging Covid-19 situation.
Industries Minister Jagadish Shettar said that the government was striving to retain Karnataka's position as the global manufacturing hub and place the state on the global manufacturing value chain.
"The government is also actively working to promote Tier-2 and Tier-3 regions of the state by developing multiple sector-specific clusters. We have developed dedicated clusters for toys in Koppal, consumer electronics in Dharwad, pharmaceuticals in Yadgir to name a few,” Shettar said.