Bengaluru, Jan 20 (PTI) Karnataka Minister M B Patil, attending the WEF annual meeting in Davos, held discussions with senior representatives of global companies on potential investments in the state.
The meetings included representatives from Menzies Aviation, UPL, The Coca-Cola Company, Tata Sons, Anheuser-Busch InBev (AB InBev), and Natural Fiber Welding (NFW Earth), according to a statement from the minister’s office on Tuesday.
Highlighting Menzies Aviation’s existing investment of USD 25 million in Bengaluru for cargo handling operations, the minister for Large and Medium Industries said the company is exploring opportunities to expand services at Kempegowda International Airport and is considering an additional investment of USD 10 million.
The company has also shown interest in establishing a Global Capability Centre (GCC) in Karnataka, he added.
Fertiliser major UPL is looking to expand its operations in the state. “The company currently has an annual turnover of Rs 300 crore in North Karnataka and is exploring the import of potash through Mangaluru port,” Patil said.
UPL has also proposed promoting maize-based industries and setting up an ethanol production unit, leveraging new technology that can boost agricultural productivity while reducing urea usage by 30 per cent.
The Coca-Cola Company, which announced last year plans to invest Rs 25,760 crore in India over the coming years, is being encouraged to direct a significant share of that investment to Karnataka.
“State industrial incentives and subsidies were explained to the company, and Vijayapura was suggested as a suitable location given its substantial water requirements for beverage production,” Patil said.
AB InBev, which operates a beer manufacturing unit in Mysuru, has expressed interest in further expanding production in the state.
Meanwhile, NFW Earth, which develops alternatives to plastic, has committed to an initial investment of Rs 1,800 crore in India and will soon submit its project proposal to Karnataka, he added.
Tata Group, already employing 1.3 lakh people in Bengaluru, shared details of its requirements for upcoming projects planned in Karnataka.
The high-level delegation accompanying Patil includes S Selvakumar, Principal Secretary, Department of Industries, and Commissioner Gunjan Krishna.
On the summit’s first day, senior representatives at the World Economic Forum, Sean Doherty, Head of International Trade and Investment, and Matthew Stephenson, Head of Investment and Services, briefed Patil on WEF initiatives, investment opportunities, facilities, incentives, and policy partnerships.
They were also apprised of Karnataka’s digital economy, innovation ecosystem, and the presence of global technology companies in the state. PTI KSU SSK
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