The Karnataka government said on Wednesday that the World Economic Forum meet in Davos has proved to be very fruitful as the team led by Chief Minister Basavaraj Bommai has inked pacts with two major companies for a total investment flow of Rs 52,000 crore. It is proof of the strong faith and trust reposed by the major companies in Karnataka, and it is the biggest investment proposal the state has ever seen in the recent past, the Chief Minister's office said in a statement. It said that the investment from these companies would create employment opportunities for thousands of people. The state government has succeeded in wooing the investors in a big way under the leadership of Bommai with the help of Industry Minister Murugesh Nirani and IT, BT Minister C NAshwath Narayan. Today was Bommai's third day at the WEF meeting, during which he had had interactions with a number of business leaders from across the world. ReNew Power, a leading name in the renewable energy sector, has signed a Memorandum of Understanding MoU with the State government to invest 50,000 crore. The release said that the company intends to set up production units in Renewable Energy, Battery Storage, and Green Hydrogen over the next 7 years in two phases. In the first phase, Rs 11,900 crore would be invested in the ongoing projects in the State and will be operational in the next 2 years. The company plans to invest around 37,500 crore in the second phase to set up Renewable Energy and Green Hydrogen units over the next 5 years, adding that the projects spread over two phases would create employment opportunities for about 30,000 people. The CM has termed this as a milestone in the Renewable Energy sector of Karnataka. Lulu Group International has come forward to invest 2,000 cr in Karnataka. The company intends to open 4 Shopping Malls and Hyper Market, and is keen to establish export oriented food processing units in the state. The projects are expected to create 10,000 job opportunities, according to the release. As part of its effort to make Karnataka the most attractive investment destination, Bommai invited the corporate honchos to participate in the Global Investors' Meet, which will be held in Bengaluru in November and the Bengaluru Tech Summit. Among the companies that have shown interest to invest in Karnataka are two projects in Bengaluru focusing on Magnetic Imaging and Diagnostics and a health related R D project. The state government has assured special incentives for the company to set up its production unit for modern medical equipment. Discussions were also held on the Beyond Bengaluru'' project to draw investments to Tumakuru, Hubballi-Dharwad and Mysuru cities. Dassault Systems wants to modernise and expand the Nestle Instant Coffee unit in Nanjangud, with investments in Electric Vehicles, Modern Production Systems, Industrial Training for students in Digital 4.0 technology and Smart City project in Karnataka. Sunil Bharti Mittal, chairman and CEO of Bharti Enterprises, said it wanted to set up a Mega Data Centre in the State. The State government has assured all the necessary cooperation to make it a reality. Bommai, who met the head of Nokia, suggested making good use of the opportunities in the state for the manufacture of telecommunication products. Nokia has its biggest Research Centre in Bengaluru with over 7,000 technocrats engaged in research related to 5 G, advanced 5 G and 6 G technologies. Additional Chief Secretary in the Department of Industries E V Ramana Reddy, CM's Principal Secretary N Manjunath Prasad and Commissioner in the Department of Industries Gunjan Krishna were part of the team. Bommai's first overseas trip was an overseas trip as a chief minister. There was speculation as to whether or not he will travel to Davos.