Two Malaysian Firms to Invest ₹32,200 Crore in Karnataka: Unit Near Mangalore to Create 3000 Jobs

Two Malaysian companies signed an MoU with the State government for investing ₹32,200 crore in Karnataka. Petronas Hydrogen and Continental India signed the MoU in the presence of Chief Minister Basavaraj Bommai in Bangalore on Tuesday.

Petronas Hydrogen will invest ₹31,200 crore in renewable energy unit near Mangalore 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.

CM Bommai told the representatives of the two firms to ensure that the MoUs are implemented within the stated timeframe.