98 companies have entered into MoU in Investors' Meet, says Karnataka minister

BENGALURU: Recently concluded ‘Invest Karnataka’, global investors meet in Bengaluru from February 11 to 14 saw as many as 98 companies entering into Memorandum of Understanding (MoU) with the State Government amount to investments of Rs 6, 23,970 crore, stated Minister of Large and Medium Scale Industries M.B. Patil while exuding hopes of 70 percent realization in the MoUs signed.

Responding to MLC S.V. Sunkanoor in the Legislative Council on Tuesday in the ongoing budget session, Patil said, in addition to the 908 companies MoUs, another 1,101 companies would invest Rs 4, 03, 533 crore and concerned Committees have cleared their way for investments in Karnataka.

The Invest Karnataka, the Minister said, drew as many as 2,892 companies from the State, another 286 companies participated from out the State and 72 investors belonged to foreign countries. Among the 98 MoUs signed at the meet, the Minister said, Companies have evinced interest in investments in aerospace, automobile and electric vehicles, cement and steel, food processing and agriculture, infrastructure and logistics, research and development, renewable energy among others.

As many as 21 districts attracted investments at the investors meet in Bengaluru and Bengaluru Rural district got a share of Rs 26, 331 crore from 30 companies and Bengaluru Urban district drew investments of 35, 297 crore from 14 companies. Other districts, he said, were able to get investments for 54 projects spanning across 19 districts.

The Minister assured the Council members to convene a meeting to start Infosys Campus at Hubballi. Earlier, Council Chairman Basabaraj Horatti and some members drew the attention of M.B. Patil over non-functioning Hubballi Infosys Campus.