Two companies on Tuesday signed an MoU with the State government for investing ₹32,200 crore in Karnataka.
Malaysia-based Petronas Hydrogen, and Continental Automotive Components (India) signed the MoU in the presence of Chief Minister Basavaraj Bommai in Bengaluru.
Petronas Hydrogen will invest ₹31,200 crore in renewable energy unit near Mangaluru that is expected to generate jobs for about 3,000 persons. Continental India will invest ₹1,000 crore through Foreign Direct Investment to set up its Research and Development Centre that is expected to generate about 6,000 jobs. .
Mr. Bommai told the representatives of the two firms to ensure that the MoUs are implemented within the stated timeframe.
