It signs an EOI with Mangalore Special Economic Zone to invest ₹300 crore to set up the facilities at MSEZ.
ETAG Energietechnik, the Indian subsidiary of the European Technology Alliance Group (ETAG) GmbH, will invest around ₹300 crore in its proposed facility for research and production in Mangalore Special Economic Zone (MSEZ), said ETAG Power Electronics LLC Director (Sales and Marketing) B.M. Prakash Pereira on Monday, January 27.
Speaking to reporters after exchanging an expression of interest (EoI) MSEZ CEO V. Suryanarayana in the presence of Dakshina Kannada MP Captain Brijesh Chowta here, Mr. Pereira said MSEZ has offered a parcel of its land to set up the facility, which is likely to be operational by early 2026. The company will recruit significant numbers of speech and hearing-impaired persons, like in ETAG GmbH, Germany, he added. ETAG specialises in energy innovations and advanced EV charging solutions.
Back to Ooru initiative
Capt. Chowta said the investment is part of his ‘Back to Ooru’ (back to the native place) initiative, which aims at motivating locals, who have moved away from their home-town, to set up enterprises in Mangaluru region. He said, “This investment underscores Mangalore’s growing reputation as a hub for innovation, industry, and global collaboration. It aligns seamlessly with Prime Minister Narendra Modi’s vision of making India a global leader in clean energy and sustainable technologies.”
Mr. Pereira said ETAG, headquartered in Germany and having regional office in Dubai, is actively engaged in mega-projects, including metro systems, airports, sports arenas, etc. The group will relocate its global headquarters and production facilities from the Middle East and Germany to Mangaluru thereby bringing the company closer to its growing customer base in Asia.
Once operational, the Mangalore SEZ production facility is expected to generate annual exports worth US$ 110 million, further enhancing India’s position in the global manufacturing and export landscape.
Stating that ETAG is committed to advancing next generation of power technologies and hybrid super-fast electric vehicle charging infrastructure, Mr. Pereira said the company continues to lead innovations in critical power solutions and sustainable energy with a focus on future of mobility.
Hailing from coastal Karnataka, Mr. Pereira thanked Capt. Chowta for the Back to Ooru initiative. Capt. Chowta said his office and Kanara Chamber of Commerce and Industry (KCCI) will work together to attract more people to invest in the region under the initiative.
ETAG CEO Jyothi Pereira and others were present.
source/content: thehindu.com (headline edited)