Karnataka bags ₹72,000 cr investment proposals

HUBBALLI : 72,000 crore investment proposals were received at the Invest Karnataka meet, here on Friday, for the states northern region, said an official on Saturday.

“About 50 foreign and domestic firms have proposed to invest 72,000 crore in the northwest and northern regions of the state and a dozen companies signed agreements with us,” state Industries Department Secretary Gaurav Gupta said.

Rajesh Exports, Bengaluru-based group, signed an agreement to set up a manufacturing unit at Dharwad to rollout electric vehicles and make lithium ion batteries.

“Rajesh Exports proposes to invest about 50,000 crore for manufacturing electric cars and lithium ion batteries for the domestic and overseas markets. It will generate about 10,000 jobs,” said Gupta.

Similarly, Sonali Power has signed a pact with the state nodal agency (Udyog Mitra) to set up a solar power plant at Davangere at a cost of 4,800 crore, which will generate 2,100 direct jobs.