Karnataka Signed Two MoU With DN Solutions and EMNI Co. Ltd Worth Rs 1040 crores

Current Context: The Karnataka government signed two Memorandums of Understanding (MoUs) totaling ₹1,040 crore with DN Solutions and EMNI Co. Ltd in Seoul, South Korea on 2nd July 2024.

• Karnataka Minister for Large and Medium Industries and Infrastructure Development MB Patil participated in a roadshow in Seoul, South Korea.
• The breakdown of the MoUs is as follows
• DN Solutions: Committed ₹1,000 crore to establish machine manufacturing facilities, a research and development center, and a technical support center for Indian manufacturing companies in Karnataka. This is expected to generate around 350 jobs in the state over the next 7-10 years.
• EMNI Co. Ltd: Signed an MoU worth ₹40 crore to invest in the storage, testing, and recycling of LG Energy Solution's battery cells in Karnataka. This project is anticipated to create 100 new jobs and contribute to the state's development in the electric vehicle and energy storage sectors.

Question:

1 What was the total amount of investment committed by DN Solutions and EMNI Co. Ltd through the MoUs signed with the Karnataka government?

• A) 1,400 crore
• B) 1,040 crore
• C) 1,080 crore
• D) 1,500 crore

Answer: B) The Karnataka government signed two Memorandums of Understanding (MoUs) totaling ₹1,040 crore with DN Solutions and EMNI Co. Ltd in Seoul, South Korea on 2nd July 2024.