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The Karnataka Authorities on Tuesday signed MoUs with the Malaysia-based Petronas Hydrogen, and Continental Automotive Elements (India) for a complete funding of Rs 32,000 crore within the presence of Chief Minister Basavaraj Bommai.
Extra Chief Secretary within the division of Commerce and Industries EV Ramana Reddy signed the MoUs with Petronas Hydrogen CEO Adlan Ahmaad and Continental Automotive CEO Prashant Doreswamy.
The Chief Minister assured the 2 firms of all cooperation and urged the businesses to implement the tasks inside the time-frame.
Petronas has dedicated to speculate Rs 31,200 crore to arrange a renewable power plant in Mangaluru. It should add about 3000 jobs.
Continental Automotive will make investments about Rs 1000 crore in an R & D centre which is predicted so as to add about 6000 jobs. The corporate is engaged in automotive software program growth and mobility expertise growth. The proposed funding is in direction of the enlargement of its Technical Middle India(TCI).
The State Authorities had, not too long ago, signed an MoU with ReNew Energy Firm at Davos for an funding of Rs 50,000 cr within the renewable power sector. The state has additionally signed an MoU with ACME Cleantech Options for establishing Hydrogen and Ammonia manufacturing vegetation in Mangaluru with an related solar energy unit at an funding of Rs 52,000 crore.
The State Authorities can also be engaged on a Inexperienced Hydrogen coverage to additional strengthen its place within the renewable power sector.
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