BENGALURU, KOLAR: Emvee Group, a manufacturer of solar photovoltaic panels and modules based in Bengaluru, has announced its plans to invest Rs 15,000 crore in a phased manner to establish a manufacturing plant.
Karnataka Large and Medium Industries Minister MB Patil said on Thursday that the company has sought 120 acres in the Bengaluru IT Investment Region (ITIR) for the project and the State Government will facilitate this request after due consideration.
Emvee Group will initially invest Rs 5,000 crore to set up a facility with a 5 GW power generation capacity, creating 10,000 jobs. The investment is part of the proposals for which a MoU was signed at the recent Global Investors Meet (GIM) - Invest Karnataka 2025, Patil said after a meeting with the senior company representatives.
The proposed plant will contribute to sustainable development by promoting green energy production, the minister added.
German co plans plant in Kolar
German F&B packaging and bottling solutions major Krones AG plans to establish a Rs 315-crore manufacturing plant in Kolar, which will create 550 jobs, Patil said.
After laying the foundation stone for the plant at Vemgal Industrial Hub, Patil said the project is part of the Rs 10.27-lakh crore investment proposals signed during the recent GIM. He also highlighted that the Vemagal plant would significantly enhance Krones’ bottling machine manufacturing capacity.