Karnataka Secures ₹6,450 Crore Investment from Japan & South Korea
By Rediff Money Desk, Bengaluru Jul 10, 2024 16:43
Karnataka secured ₹6,450 crore investment commitment from Japan & South Korea with potential for over 1,000 jobs. The investment was secured during Minister M B Patil's recent visit.
Bengaluru, Jul 10 (PTI) Karnataka has secured Rs 6,450 crore in investment commitments from Japan and South Korea with potential to create more than 1,000 jobs, Minister M B Patil said on Wednesday.
The Large and Medium Industries and Infrastructure Development Minister was on a visit to the two countries from June 24 to July 5.
The Karnataka delegation he had led met industry leaders and conducted roadshows for Small and Medium Enterprises (SMEs).
We have received investment commitments and MoUs worth Rs 6,450 crore. These commitments from six major companies are projected to create over 1,000 jobs in Karnataka, Patil told reporters.
He said the delegation met more than 35 industry leaders and 200 companies in the two roadshows conducted in Japan and South Korea.
In Japan, the delegation met with key industry leaders including those from Renesas Electronics Corporation, Toyota Motor Corporation, Yamaha Motor Company, Sumitomo Heavy Industries, Panasonic Energy, Nidec Corporation, Nissan Motor Corporation, Brother Industries, Shimadzu Corporation, and Hitachi, Patil said.
In South Korea, meetings were held with Samsung Electronics, LG Energy Solutions, LX Electronics, NIFCO Korea, OCI Holdings, Krafton, HYAC, Hyundai Motors, YG-1, and Hyosung Advanced Materials, among others.
Patil said Osaka Gas has committed to expanding its gas distribution infrastructure in Karnataka with an investment of Rs 5,000 crore over the next five years.
DN Solutions signed a Rs 1,000 crore MoU to establish a manufacturing facility for precision tools and automation systems, expected to create approximately 350 jobs.
Japanese automobile component supplier Aoyama Seisakusho too expressed its interest to invest Rs 210 crore to set up a manufacturing facility in the Japanese Industrial Township in the State, Patil said.
The Large and Medium Industries and Infrastructure Development Minister was on a visit to the two countries from June 24 to July 5.
The Karnataka delegation he had led met industry leaders and conducted roadshows for Small and Medium Enterprises (SMEs).
We have received investment commitments and MoUs worth Rs 6,450 crore. These commitments from six major companies are projected to create over 1,000 jobs in Karnataka, Patil told reporters.
He said the delegation met more than 35 industry leaders and 200 companies in the two roadshows conducted in Japan and South Korea.
In Japan, the delegation met with key industry leaders including those from Renesas Electronics Corporation, Toyota Motor Corporation, Yamaha Motor Company, Sumitomo Heavy Industries, Panasonic Energy, Nidec Corporation, Nissan Motor Corporation, Brother Industries, Shimadzu Corporation, and Hitachi, Patil said.
In South Korea, meetings were held with Samsung Electronics, LG Energy Solutions, LX Electronics, NIFCO Korea, OCI Holdings, Krafton, HYAC, Hyundai Motors, YG-1, and Hyosung Advanced Materials, among others.
Patil said Osaka Gas has committed to expanding its gas distribution infrastructure in Karnataka with an investment of Rs 5,000 crore over the next five years.
DN Solutions signed a Rs 1,000 crore MoU to establish a manufacturing facility for precision tools and automation systems, expected to create approximately 350 jobs.
Japanese automobile component supplier Aoyama Seisakusho too expressed its interest to invest Rs 210 crore to set up a manufacturing facility in the Japanese Industrial Township in the State, Patil said.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 225575969
- IFL Enterprises
- 1.30 (+ 4.84)
- 65529957
- Vodafone Idea L
- 16.87 (+ 1.14)
- 54369872
- NCL Research
- 0.95 ( -4.04)
- 30557377
- Franklin Industries
- 3.78 (+ 4.71)
- 17786668
MORE NEWS
Auxilo Finserve Raises Rs 279 cr for Student...
Auxilo Finserve, an education-focused NBFC, secures Rs 279 crore funding from LeapFrog...
![Sugar Industry...](https://im.rediff.com/80-80/money/2017/jul/24sugar.jpg)
Sugar Industry Faces Issues Due to No MSP Hike:...
A federation official claims the sugar industry faces problems due to no MSP hike for...
![Sensex, Nifty Hit...](https://im.rediff.com/80-80/money/2021/may/14bse.jpg)
Sensex, Nifty Hit All-Time Highs: Market Update
Indian stock markets continue their upward trend, with Sensex and Nifty hitting new...