Fortum participates in Karnataka Global Investors' Meet 2012



During 6-8 June, Fortum participated in the Global Investor Meet, GIM in Bangalore, Karnataka for the first time. Since establishing presence in India in February 2012, Fortum has enjoyed a very positive discussion both with Karnataka State officials and local industry. Karnataka is one of the most interesting states in India for future investments.
In order to promote investments, the Government of Karnataka (GoK) initiated the biennial Global Investors’ Meet (GIM) in 2010 with an objective to showcase the investment potential of the State across sectors. The meet aimed to bring together business leaders, investors, corporations, thought leaders and policy and opinion makers. GIM-2010 received great response, with investments worth INR 4 lakh crore (~57 billion euros).
Karnataka has emerged as an attractive Indian state for potential investors over the past few years. The State’s GDP has grown at an impressive 12% since FY06 to ~$65B in FY11, driven primarily by the Services sector, which has grown at ~17%, but also showing a healthy 9% growth in the industrial sector.




Services sector, which has grown at ~17%, but also showing a healthy 9% growth in the industrial sector.


GIM 2012 was held over 6-8 June and witnessed tremendous success, with the inaugural day witnessing 400 MoUs between the State of Karnataka and various industry participants for INR 5 lakh crore (~72 billion euros), against a total target of INR 6 lakh crore.  Karnataka remains committed to playing the role of a catalyst and facilitator to maintain the State as India’s preferred investment destination.


Fortum participated in the GIM-2012 as an exhibitor to explore investment opportunities and also to explore and develop relationships with various stakeholders. The exhibit was located in the Energy pavilion of the GIM Expo, along with other major companies such as JSW, Suzlon, GAIL and Indian Oil. Senior members of the Fortum India team were present at the exhibit – SVP, Fortum Asia (Maria Paatero-Kaarnakari), MD Fortum India (Matti Kaarnakari) and Technical Director Fortum India (Kosti Rautiainen).



The Fortum exhibit received excellent response, with several hundred visitors over a span of three days. These included various process industries looking for power and heat solutions as well as equipment vendors, EPC/design consultants and fuel providers. Fortum also received a lot of interesting queries about potential solar power solutions (including roof-top) from various commercial enterprises.


“We are very positively taken by the interest Fortum received during the three days in this exhibition. I am sure, that this visibility across potential customers and vendors will definitely prove useful as Fortum moves forward with its goal of providing sustainable energy solutions in India” says Fortum’s Managing Director for India, Matti Kaarnakari, and continues “Fortum’s priority ambition is to provide electricity and steam for industrial users, and the initial plan is to seek profitable investment opportunities for two-three cogeneration plants.”



Fortum participates in Karnataka Global Investors' Meet 2012