Toyotetsu India Auto Parts Pvt Ltd is planning to invest in a new plant in Bidadi, near Bengaluru. This will company’s fourth plant aimed to meet rising demand of Innova Hycross and support Toyota Kirloskar Motor Limited.
The investment was made under 20 projects approved by the Karnataka government, a PTI report said.
On August 17, the 147th Karnataka’s Single Window Clearance Committee (SLSWCC) approved 20 projects worth ₹2280.52 crore and which is expected to create 3,457 jobs.
The SLSWCC meeting was headed by MB Patil, Karnataka Minister for Large, Medium Industries, and Infrastructure.
The 20 approved projects include investments by companies such as Toyotetsu India Auto Parts Pvt Ltd. planning to invest ₹450 crore and ILV South Warehousing Parks Private Limited, which plans to invest and ₹423 crore, the report said.
Toyotetsu is a company that specialises in auto parts and was established in India in 1998 and started operations in 1999 in the Bidadi area, Karnataka.
Aoyama Seisakusho Co. is expected to invest ₹210 crore to set up an automotive fasteners production facility at Vasanthanarasapura, the report said.
The Single Window Clearance Committee approved six major large and medium projects with a total capital expenditure of over ₹50 crore. The six projects amount to ₹2,025.71 crore.
The projects are supposed to generate jobs for around 2,440 people, according to the report. In Karnataka budget 2024, the capital expenditure for 2024-25 is proposed to be ₹52,903 crore.
Furthermore, 13 new projects with capital investments ranging between ₹15 crore and ₹50 crore which amounts to a total of ₹214.81 crore have been approved which aims to create jobs for around 1,017 people. Additionally, one more capital investment project worth ₹40 crore has also been approved.
Previously in June, the Karnataka government approved 64 projects with a total investment of ₹3,587.67 crore and was expected to create 13,896 employment opportunities in the State, according to reports. The projects was cleared by SLSWCC, chaired M.B. Patil.
Some of the major projects included investments from International Battery Company India which aimed to invest ₹390 crore and River Mobility aiming to invest ₹306.9 crore, the reports said.
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