Bommai meets industry leaders in Davos, Lulu Group to invest Rs 2k crore in Karnataka

Karnataka Chief Minister Basavaraj Bommai, who is in Davos to attend the World Economic Forum (WEF), held a series of meetings with major industry leaders.
Chief Minister Basavaraj Bommai holds talks with Lakshmi M Mittal, Executive Chairman of ArcelorMittal, at the World Economic Forum Meet in Davos, Switzerland
Chief Minister Basavaraj Bommai holds talks with Lakshmi M Mittal, Executive Chairman of ArcelorMittal, at the World Economic Forum Meet in Davos, Switzerland

BENGALURU: Karnataka Chief Minister Basavaraj Bommai, who is in Davos to attend the World Economic Forum (WEF), held a series of meetings with major industry leaders. While a Memorandum of Understanding (MoU) was signed with Lulu International Group for an investment of Rs 2,000 crore in the state, many firms, including Dassault Systems, evinced interest to invest in Karnataka.

The Lulu Group plans to open four shopping malls, a hypermarket and an export-oriented agri-processing unit in the state. The projects are expected to create employment opportunities for 10,000 people. Director of Lulu International Group AV Anantharaman, who met the CM in Davos, signed the MoU with state government officials.

Bommai also held talks with heads of Jubilant Group, Hitachi, Siemens, Hero Motocorp, Dassault Systems and Nestle and showcased Karnataka as an ideal investment destination.The CM invited Jubilant Group to explore investment opportunities in pharma and FMCG sectors and made a pitch for the FMCG Park being set up in Dharwad. He explained the incentive package being offered by the state government to draw investors to set up their units in the state.

The group is keen to establish its R&D unit on a 10-acre plot at Devanahalli. Presently, about 9,000 people are working with Jubilant Group in the state, according to a statement issued by the Chief Minister’s Office (CMO).During talks with the CM, Hitachi representatives expressed their interest to set up an EV charging infrastructure unit in the state. The company has showed interest in exploring opportunities in energy and digitalisation sectors considering the immense talent pool available in Bengaluru. Hitachi Energy has its head office in Bengaluru and is building an engineering centre which will engage about 2,000 engineers, the statement said.

TALKS HELD WITH DASSAULT, NESTLE
CMO said Dassault evinced interest to invest in EV, modern production systems, industrial training for students in Digital 4.0 technology and Smart City project. Nestle showed interest in expanding the Nestle Instant Coffee unit in Nanjangud. The ‘Beyond Bengaluru’ project was discussed with Siemens to draw investments to Tumakuru, Hubballi-Dharwad and Mysuru.

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