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Coastal Karnataka To Get Around Rs. 2 Lakh Crore Investment in RE Sector

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Karnataka Chief Minister Basavaraj Bommai said the state is expecting a huge investment in coastal districts in the area of renewable energy over the coming months.

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Speaking to reporters at Bajpe International Airport, he said around Rs 2 lakh crore investment proposals have come in the area of renewable energy, hydrogen energy and production of ammonia from sea water in the just concluded Global Investors Meet (GIM).

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Bommai said preparations are on to provide basic infrastructure for the production of energy and the State High level Committee has given approval for three renewable energy companies, which are expected to start work by March or April next year.

The role of coastal areas in the field of renewable energy production is very important. Two important projects — hydrogen and ammonia production — are coming up, Bommai said.

He added that an important ammonia manufacturing unit from the sea water will come up in and around Mangaluru.

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The Chief Minister exuded confidence that a huge number of jobs will be created directly and indirectly from these projects which will open the doors of opportunity for the youth of this region.

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