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Successfully attracted over Rs 23,000 cr investment: K’taka Min on Davos Summit

M. B. Patil, Minister of Large and Medium Industries and Infrastructure Development on Wednesday said that the Karnataka delegation during the Davos Summit of World Economic Forum was able to successfully attract an impressive investment of over Rs 23,000 crores

Successfully attracted over Rs 23,000 cr investment: K’taka Min on Davos Summit
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Successfully attracted over Rs 23,000 cr investment: K’taka Min on Davos Summit

Bengaluru, Jan 24: M. B. Patil, Minister of Large and Medium Industries and Infrastructure Development on Wednesday said that the Karnataka delegation during the Davos Summit of World Economic Forum was able to successfully attract an impressive investment of over Rs 23,000 crores.

“Our delegation engaged in more than 50 strategic meetings with global industry leaders such as Nestlé, HP, HCL, Volvo Group, IKEA, Sony, Microsoft, Hitachi, and others. Web Werks has pledged Rs 20,000 crores to establish a massive 100 MW data center in Bangalore, promising employment opportunities for 1,000 people,” Patil, who led the Karnataka delegation to Davos, said during a press conference at the Vidhana Soudha conference hall in Bengaluru.

He said that Microsoft has also committed to contribute to digital skills development, while Hitachi has signed MoU focused on promoting economic growth in rural areas.

“Several companies have also expressed interest in initiating operations in North Karnataka. Initiatives are underway to foster equal industrial development in places like Vijayapur, Hubli-Dharwad, Belgaum, and other regions,” Patil said.

He said that -- as part of this commitment to regional development -- Lulu Group and BL Agro are set to expand their presence in Vijayapur.

“Lulu Group plans to establish a new Rs 300 crore food processing unit in Vijayapur and invest further in expanding its existing unit in Kalaburagi,” Patil said.

He said that BL Agro is also gearing up to establish a fully equipped food processing plant in Vijayapur.

“This facility will play a pivotal role in procuring, grading, sorting, and packaging local food products for both domestic and international markets,” Patil said.

He said that the overall investment landscape also includes Rs 3,000 crores from various companies directed towards smart city infrastructure, renewable energy solutions, data centers, and related sectors.

“AB InBev India has expressed its intent to invest Rs 400 crores to enhance the manufacturing capacity of its liquor units in Karnataka,” Patil said.

IANS
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