On the second day of their delegation’s visit to Seoul, South Korea, the Karnataka government successfully inked two Memorandums of Understanding (MoUs) valued at Rs 1,040 crore with DN Solutions and EMNI Company Limited.
Led by MB Patil, Karnataka’s Minister for Large and Medium Industries and Infrastructure Development, the delegation participated in a high-profile ‘Roadshow on Investment Opportunities in Karnataka’ organized jointly by the Karnataka government and the Embassy of India in Seoul.
According to a statement released by Minister MB Patil’s office, these strategic collaborations are poised to significantly bolster Karnataka’s manufacturing, research and development, and battery technology sectors.
The statement highlighted DN Solutions’ substantial commitment of Rs 1,000 crore towards Karnataka’s industrial landscape. This investment will facilitate the establishment of advanced machine manufacturing facilities, a cutting-edge research and development center, and a technical support hub tailored for Indian manufacturing enterprises.
EMNI Co. Ltd, on the other hand, pledged an investment of Rs 40 crore specifically directed towards advancing battery technologies. The MoU with EMNI Co. Ltd focuses on initiatives related to the storage, testing, and recycling of LG Energy Solution’s battery cells within Karnataka.
These agreements mark a pivotal step forward in Karnataka’s pursuit of economic growth and technological innovation, underscored by strong partnerships with global leaders in industry and technology.