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Karnataka inks 51 MoUs worth Rs 72,000 cr

Monday, 17 Feb 2020

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Companies like Rajesh Exports, Sanali Energy, Bhagiratha Chemicals, Hindustan Petroleum Corporation (HPCL), Indian Oil Corporation (IOC), Renew Power, Gujarat Ambuja, KLE Society, Dodla Dairy, NATCAP, and others signed MoU with the state government to implement projects in the north Karantaka region. It is expected to generate employment for 90,000 people from the region.

Rajesh Exports has proposed to set up a manufacturing plant for electric vehicles and lithium-ion cells and batteries by investing Rs 50,000 crore to create employment for 1,000 people in Dharwad. Sanali Power has proposed to invest Rs 4,800 crore to start hybrid wind and solar power project in Davanagere, and it is proposed to create jobs for 2,100 people.

Natcap Power has proposed to invest Rs 3,000 crore to set up a waste-to-energy MSW plant and biomass conversion to fuel and electricity in Hubballi to create jobs for 100 people. Jettwings Aerospace and Aviation of Guwahati will infuse Rs 2,060 crore in Dahrwad to set up Jettwings Flight Training Academay and Aviation Training School to create employment for 2,520 people.

Ayana Renewable Power of Bengaluru will invest Rs 3,000 crore in Hubballi to start solar, wind, hybrid power project and create 250 jobs. Apart from these Savson Distil will invest Rs 122 crore in Belagavi district; KLE Education Society will invest Rs 600 crore in Belagavi; and IOC will invest Rs 500 in Chitradurga to develop POL Terminal in central Karnataka.

Dodla Dairy will invest Rs 60 crore in Belagavi for a dairy-processing unit; Ashok Iron Works will pump Rs 300 crore in Udyambag in Bealgavi for expansion of foundry; and the Hindustan Petroleum Corporation of Mumbai to invest Rs 680 in Hassan, Tumkuru and Chitradurga.

Pharma companies including Bhagiradha Chemicals and Industries, Hari Pharma, Indur Life Sciences, Jet Life Sciences of Hyderabad, Adarsha Pharmaceutical Industry of Kalaburagi to invest Rs 345 crore, Rs 16 crore, Rs 16 crore, Rs 19.50 crore, and Rs 40 crore, respectively, in Kadechur Industrial Area of Yadgir.