Karnataka

Two companies to invest ₹32,200 crore in Karnataka, create 9,000 jobs

Vidhana Soudha in Bengaluru. Petronas Hydrogen and Continental India signed the MoU in the presence of Karnataka Chief Minister Basavaraj Bommai in Bengaluru.

Vidhana Soudha in Bengaluru. Petronas Hydrogen and Continental India signed the MoU in the presence of Karnataka Chief Minister Basavaraj Bommai in Bengaluru. | Photo Credit: PTI

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.


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Printable version | Aug 14, 2022 7:20:29 am | https://www.thehindu.com/news/national/karnataka/two-malaysian-firms-ink-pact-worth-32200-crore-in-karnataka/article65603330.ece