Web Werks India proposes to invest Rs 20,000 crore to set up a data centre park, according to an MoU the company signed with the Karnataka government at the World Economic Forum Annual Meeting at Davos.

"Great news from Davos! This is a giant leap in our infrastructure journey. Welcome aboard, Web Werks!", the Chief Minister Siddaramaiah said on 'X'.

"Karnataka has inked an MoU with Web Werks India Pvt. Ltd at the World Economic Forum. We're set to welcome a massive Rs 20,000 crore investment from Web Werks for a new Data Centre Park in Bengaluru," he said.

The government signed MoUs with investment proposals to the tune of Rs 22,000 crore with seven companies, including the one with Web Werks, according to a statement issued by the Karnataka Minister for Large and Medium Industries and Infrastructure Development M B Patil.

A delegation from the state, headed by Patil, engaged in a series of deliberations with industry leaders during the WEF Meet 2024 in Switzerland, it said.