MoU with the two companies to create 9000 jobs
Bengaluru, NFAPost: The state government signed MoUs with Malaysia-based Petronas Hydrogen and Continental Automotive Components(India) for a total investment of Rs 32,000 crore in the presence of Chief Minister Basavaraj Bommai.
Additional Chief Secretary in the Department of Commerce and Industries Dr. EV Ramana Reddy and Petronas Hydrogen CEO Adlan Ahmaad, Continental Automotive CEO Prashant Doreswamy signed the MoUs.
Speaking on occasion, Chief Minister Bommai assured the two companies of all the cooperation from the state government and wanted the companies to implement the projects within the time frame.
Minister for IT, BT Dr. CN Ashwathnarayan, Chief Minister’s Principal Secretary Manjunath Prasad, and Commissioner for Industries department Gunjan Krishna were present on the occasion.
Petronas has committed to invest Rs 31,200 crore to set up a renewable energy plant in Mangaluru. It would create employment opportunities for 3000 persons.
Continental Automotive is set to have a direct foreign investment of Rs 1000 crore for the setting up of a Research and Development Center. It is expected to provide jobs for 6000 persons. The company is engaged in automotive software development and mobility technology development. The proposed investment is aimed toward the expansion of its Technical Center India(TCI).
Karnataka Additional Chief Secretary Dr E V Ramana Reddy said the state is at the forefront of the Renewable Energy and Automobile sector.
We have always been encouraging new technologies and futuristic projects. The MoUs outline our commitment to stimulate clean energy transition and employment in the state. The state government would provide all the support and cooperation for the speedy implementation of the projects,” said Karnataka Additional Chief Secretary Dr E V Ramana Reddy.
Department of Industries & Commerce Commissioner Gunjan Krishna said the MoUs signed will spearhead clean and green energy solutions, boost innovation around automotive software development, connected technologies, autonomous mobility for the global automotive industry.
Karnataka is at the forefront of the renewable energy sector. The state recently signed an MoU with ReNew Power Company at Davos for an investment of Rs 50,000 crore in the renewable energy sector.
The state has also signed an MoU with ACME Cleantech Solutions Company for setting up Hydrogen and Ammonia production plants in Mangaluru with an associated solar power unit with an investment of Rs.52,000 cr.
The State government is formulating an exclusive Green Hydrogen policy further to consolidate its leadership position in the renewable energy sector.
