Karnataka Govt signs MoUs worth Rs 22,000 crore with 7 companies at WEF meet at Davos

The Karnataka government said on Wednesday it has signed MoUs with investment proposals to the tune of Rs 22,000 crore with seven companies at the World Economic Forum Annual Meeting in Davos.

As part of the MoUs signed on Tuesday, Web Werks proposes to set up a Rs 20,000 crore data centre park in the State, while four other companies plan to invest a total of Rs 2,000 crore, according to a statement issued by the Karnataka Minister for Large and Medium Industries and Infrastructure Development M B Patil.

A delegation from the state, headed by Patil, engaged in a series of deliberations with industry leaders during the WEF Meet 2024 in Switzerland, it said.

The Lulu Group is set to venture into food processing in Vijayapura district, with plans to invest Rs 300 crore in a plant dedicated to exports, the statement said.

Takeda Pharmaceuticals intends to establish a global innovation centre in Bengaluru and is actively scouting for suitable campus locations, it was stated.