Two Malaysian cos to invest Rs 32k cr in Karnataka

07 Jul 2022 CW Team

The Karnataka Government signed MoUs with the Malaysia-based Petronas Hydrogen, and Continental Automotive Components (India) for a total investment of Rs 32,000 crore in the presence of Chief Minister Basavaraj Bommai.

Additional Chief Secretary in the department 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 two companies of all cooperation and urged the companies to implement the projects within the time frame.

Petronas has committed to invest Rs 31,200 crore to set up a renewable energy plant in Mangaluru. It will add about 3,000 jobs.

Continental Automotive will invest about Rs 1000 crore in an R & D centre, which is expected to add about 6000 jobs. The company is engaged in automotive software development and mobility technology development. The proposed investment is towards the expansion of its Technical Center India (TCI).

The State Government had, recently, signed an MoU with ReNew Power Company at Davos for an investment of Rs 50,000 crore in the renewable energy sector. The state has also signed an MoU with ACME Cleantech Solutions for setting up Hydrogen and Ammonia production plants in Mangaluru with an associated solar power unit at an investment of Rs 52,000 crore.

Also read:
Ten steps by NITI Aayog to make India a green hydrogen hub
JSW Steel to invest Rs 100 billion to increase use of renewable energy

Real Estate

02 Jun 2026

Dash Square Adds Ashley Study Furniture

Dash Square has expanded its furniture portfolio with a curated study furniture collection from Ashley Furniture Homestore. The range is designed for contemporary homes where work, study and creative activities increasingly require dedicated and well-planned spaces.The collection includes writing desks, executive workstations, storage-led study units and display shelving. It combines practicality, comfort and design to create workspaces that are functional as well as visually appealing.One setting features a light-toned desk with coordinated bookcases and storage cabinets, creating a bright an..

Suraj Estate Arm Acquires Mahim Land Rights

Suraj Estate Developers, through its wholly owned subsidiary Iconic Property Developers, has signed an MoU to acquire development rights for a land parcel in Mahim (West), Mumbai, for Rs 75 crore. The plot measures around 2,941 sq m and is located next to the company’s ongoing commercial project, Suraj One Business Bay.After amalgamation with the existing commercial development, the land is expected to generate additional saleable carpet area of around 1.50 lakh sq ft, with an estimated gross development value of Rs 800 crore. The project is expected to strengthen the company’s near-to-med..

AGNI Launches Industry Benchmarking Drive

The Association of Global NICMARians (AGNI), the alumni body of NICMAR, hosted ASPIRE 2026 in Mumbai under the theme ‘Innovation to Transformation’. The symposium brought together professionals from construction, infrastructure, real estate and project management to discuss technology, AI, sustainability and data-led decision-making.At the event, AGNI announced its vision to emerge as an industry think tank and launched initiatives including an Industry Benchmarking Programme. It also proposed a digital ecosystem with tools for innovation impact assessment, salary benchmarking, company ben..