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Lulu Group to invest ₹300 crore in Vijayapur
The World Economic Forum's Davos Summit has proven to be a significant milestone for Karnataka as the state attracts an impressive investment influx of over ₹23,000 crores.
Bengaluru: The World Economic Forum's Davos Summit has proven to be a significant milestone for Karnataka as the state attracts an impressive investment influx of over ₹23,000 crores.
Minister of Large and Medium Industries and Infrastructure Development, MB Patil shared the outcomes of the summit during a press conference held at the Vidhana Souda conference hall on Wednesday.
Minister M B Patil highlighted the success of the state delegation, engaging in more than 50 strategic meetings with global industry leaders such as Nestlé, HP, HCL, Volvo Group, IKEA, Sony, Microsoft, Hitachi, and others. Among the noteworthy commitments, Web Werks has pledged ₹20,000 crores to establish a massive 100 MW data center in Bangalore, promising employment opportunities for 1000 people. Microsoft has also committed to contributing to digital skills development, while Hitachi has signed an MoU focused on promoting economic growth in rural areas.
Emphasizing a commitment to regional development beyond Bangalore, Patil revealed that several companies expressed interest in initiating operations in North Karnataka. Initiatives are underway to foster equal industrial development in places like Vijayapur, Hubli-Dharwad, Belgaum, and other regions.
As part of this commitment to regional development, Lulu Group and BL Agro are set to expand their presence in Vijayapur. Lulu Group plans to establish a new ₹300 crore food processing unit in Vijayapur and invest further in expanding its existing unit in Kalaburagi.
BL Agro, on the other hand, is gearing up to establish a fully equipped food processing plant in Vijayapur. This facility will play a pivotal role in procuring, grading, sorting, and packaging local food products for both domestic and international markets.
The overall investment landscape also includes ₹3,000 crores from various companies directed towards smart city infrastructure, renewable energy solutions, data centers, and related sectors. Notably, AB InBev India has expressed its intent to invest ₹400 crores to enhance the manufacturing capacity of its liquor units in Karnataka.
Dr. S. Selvakumar, Principal Secretary of the Department of Commerce and Industry, Secretary of ITBT Ekroop Kaur, Commissioner of the Department of Commerce and Industry Gunjan Krishna, and CEO of Karnataka Industrial Area Development Board (KIADB) Dr. Mahesh, along with other top officials, were present at the press conference, showcasing collective enthusiasm for Karnataka's burgeoning industrial landscape.
