Abu Dhabi-based Lulu Group on Monday inked a deal worth Rs 2,000 crore with Karnataka on the sidelines of the World Economic Forum (WEF) summit at Davos where Chief Minister Basavaraj Bommai is wooing investors.
The Lulu Group will invest Rs 2,000 crore to set up four shopping malls, hypermarkets and food processing units in Tier-2 cities of the state. The agreement was signed between Additional Chief Secretary (Commerce & Industry) EV Ramana Reddy and Lulu Group director AV Ananth Ram in the presence of Bommai.
This will create 10,000 jobs, the government said.
Bommai also announced that the Jubilant Bhartia Group would invest Rs 700 crore to set up a centralised kitchen and an R&D unit on a 10-acre plot at Devanahalli. Bommai nudged the company, which already employs 9,000 people in the state, to explore investing at the FMCG Park coming up at Dharwad.
After meeting Hitachi Energy CEO Claudio Facchin, Bommai said the company plans to invest Rs 200 crore to set up EV charging infrastructure in the state. “The company is all set to inaugurate its energy quality instrument unit at Doddaballapur,” Bommai said in a statement, adding that Hitachi Energy, with its head office in Bengaluru, is building an engineering centre that will engage 2,000 engineers.
Bommai held talks with Hero MotoCorp CEO Pawan Munjal and representatives from Dassault Systems, Nestle, AB InBev and Siemens Healthineers.
Nestle, Bommai said, will invest in modernising its instant coffee unit in Karnataka.
Bommai further said that Siemens plans to lay the foundation stone for setting up a medical equipment manufacturing unit at Bommasandra in September 2022 to cater to the domestic market. The government has assured special incentives for Siemens, he added.
Bommai also discussed the ‘Beyond Bengaluru’ initiative with Siemens to drive investments towards Tumakuru, Hubballi-Dharwad and Mysuru.
During the day, Bommai launched the Karnataka Pavilion at the WEF summit. He participated in a session on soil extinction, climate change and ecological degradation with spiritual leader Sadhguru ‘Jaggi’ Vasudev. “The solution lies in linking nature to economics - eco-economics. Eco-budgeting has to be there in the balance sheets of all businesses,” Bommai said.
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