Huge investments coming to coastal region due to global investors meet: K’taka CM

Bengaluru, Nov 19 (SocialNews.XYZ) Buoyed by the success of the recently concluded global investors meet, Karnataka is expecting investments of around Rs 2 lakh crore to make their way to coastal regions of the state.

Renewable energy, hydrogen energy and production of ammonia from sea water, are areas that will receive a fillip, and a huge investment is expected in coastal districts, chief minister Basavaraj Bommai has said.

The state had garnered a little under 10 lakh crore rupees worth investments in the 3-day event held in the first week of November.

Talking to reporters at the Bajpe International Airport in Mangaluru on Saturday, Bommai said preparations are afoot to provide basic infrastructure for the production of energy and the state's high level committee has given approval for three renewable energy companies and they are expected to start work by March-April next year.

Underlining the role of coastal areas in the field of renewable energy production, Bommai said that two important projects related to Hydrogen and Ammonia production are coming up at international level in the Gulf and Mangaluru.

"An important ammonia manufacturing unit from the sea water will come up in and around Mangaluru. The energy required for the renewable energy unit will be taken from renewable sources of energy like solar, windmill. It will be a total green project. A huge number of jobs will be created directly and indirectly from these projects thereby opening the doors of opportunity for the youths of this region," Bommai said.

Attributing the recent spells of incessant rains for the delay in repair works of Mangaluru-Bengaluru Highway, Bommai said he will meet union surface transport minister Nitin Gadkari in Delhi, in this regard.

Source: IANS