Toyotetsu India Auto Parts Pvt Ltd plans to invest in a new plant at Bidadi near Bengaluru. This will be the company’s fourth plant aimed at meeting the growing demand for Innova Hycross and supporting Toyota Company: Kirloskar Motor Limited.
The investment was made within the framework of 20 projects approved by the karnataka Government, according to a PTI report.
On August 17, the 147th Karnataka Single Window Clearance Committee (SLSWCC) approved 20 projects worth ₹2280.52 crore and is expected to generate Rs 3457 crore. jobs.
The SLSWCC meeting was chaired by MB Patil, Karnataka Minister for Large, Medium Industries and Infrastructure.
The 20 approved projects include investments from companies such as Toyotetsu India Auto Parts Pvt Ltd. which plans to invest ₹450 crore and ILV South Warehousing Parks Private Limited, which plans to invest and ₹423 crore, the report said.
Toyotetsu is a specialized auto parts company that was established in India in 1998 and started operations in 1999 in the Bidadi area of Karnataka.
Aoyama Seisakusho Co. is expected to invest ₹Rs 210 crore will be invested in setting up an automotive fastener manufacturing plant in Vasanthanarasapura, the report said.
The One-Stop Approval Committee approved six major large- and medium-sized operations. Projects with a total Capital expenditures of more than ₹50 crores. The six projects amount to ₹2,025.71 crores.
The projects are expected to generate employment for around 2,440 people, the report said. In the Karnataka Budget 2024, the capital expenditure for 2024-25 is proposed to be ₹52,903 crores.
In addition, 13 new projects with capital investments ranging from ₹15 crore rupees and ₹50 crore rupees, which amounts to a total of ₹Rs 214.81 crore has been approved, which aims to create jobs for around 1,017 people. In addition, another capital investment project worth Rs 200 crore has been approved. ₹Rs 40 crore were also approved.
Earlier in June, the Karnataka government approved 64 projects with a total investment of ₹The project would reportedly cost Rs 3,587.67 crore and was expected to create 13,896 employment opportunities in the state. The project has been given the nod by SLSWCC, chaired by MB Patil.
Some of the most important projects included investments from International Battery Company India, which aimed to invest ₹390 crore and River Mobility aim to invest ₹306.9 crore, according to reports.
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