BANGALORE: The Karnataka government on Thursday signed Memoranda of Understanding (MoUs) with as many as 50 entities approving their investment proposals worth Rs 5.64 lakh crore on the first day of the Global Investors' Meet in Bangalore.

 The highest investment proposal in terms of capital outlay came in the green hydrogen and renewable energy sectors. As per  to the organisers of the three day investors summit, Karnataka government signed agreements with seven entities in the area of green hydrogen and its derivatives to the tune of Rs 2.91 lakh cr, while it entered into an deal with 9 companies in the area of renewable energy to the tune of Rs 1.29 lakh crore.

The Adani Group has plans to invest almost Rs 1 lakh crore over the next 7 years in Karnataka as it seeks to expand its footprint in multiple sectors, Adani Ports and SEZ Limited CEO Karan Gautam Adani said on Wednesday. He said having already invested over Rs 20,000 crore in Karnataka till now, the company group is active in multiple sectors in the state, ranging from cement, power, city piped gas and edible oil to transport, logistics and digital.

Sajjan Jindal, chairman and managing director of JSW Steel Ltd and JSW Energy Ltd, said JSW Group plans to invest 1 trillion rupees in its steel, green field port, cement, paints, and renewable energy businesses in Karnataka over the next five years. The group has already invested 1 trln rupees in these businesses in Karnataka and will further expand capacities through new investments, Jindal said at the summit. Further, shared electric mobility player Yulu on Wednesday said it will invest Rs 1,200 crore to deploy 1 lakh electric vehicles and operationalise battery charging and swapping infrastructure in Karnataka over the next 5 years.

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