Karnataka govt signs MoU with TKM for Rs 3,300cr investment

K'taka govt signs MoU with TKM

Bengaluru: The Karnataka government on Tuesday signed a memorandum of understanding (MoU) with automobile major Toyota Kirloskar Motor (TKM), an Indian subsidiary of Japan’s Toyota Motor Corporation for further expansion of its car manufacturing facility at Bidadi in Karnataka.

As per the MoU, TKM will make an additional investment of Rs 3,300 crore to set up its third manufacturing facility with a capacity of 1 lakh units at Bidadi, about 35 km from Bengaluru, potentially generating employment for up to 2,000 individuals.

The MoU with the Karnataka government was signed and exchanged by Chief Minister Siddaramaiah and Masakazu Yoshimura, Managing Director and Chief Executive Officer, Toyota Kirloskar Motor in the presence of Deputy Chief Minister D.K. Shivakumar, among others.

“We take immense pride in being the home to Toyota’s manufacturing plants and express our appreciation for Toyota’s plans for further investments in the state. Their presence in Karnataka since 1997, is an example of the state consistently remaining an attractive destination,” said CM Siddaramaiah.

Toyota Kirloskar Motor has a large presence in Karnataka with a car manufacturing plant at Bidadi which has a capacity to manufacture 3,10,000 vehicles per annum.

Last year, the Toyota Group of companies constituting Toyota Kirloskar Motor and Toyota Kirloskar Auto Parts (TKAP) signed and announced their Memorandum of Understanding (MOU) with the government of Karnataka to invest Rs 4,100 crore aimed at making deeper cuts in CO2 emissions and enhance electrification and fast pace shift towards greener technologies.

The Karnataka government is always ready to support the setting up of industries in the state across various sectors. The government will provide the necessary assistance to make the journey of investors more comfortable, MB Patil said.

Get the latest updates in Hyderabad City News, Technology, Entertainment, Sports, Politics and Top Stories on WhatsApp & Telegram by subscribing to our channels. You can also download our app for Android and iOS.


Comments

Post a Comment

Popular posts from this blog

‘No difference between Congress, PFI’: Karnataka BJP

Image
Bengalore: Coming down heavily on the Congress for demanding a ban on the Rashtriya Swayamsevak Sangh (RSS) on the lines of the Popular Front of India, the ruling BJP has equated the PFI with the Congress. Minister for Education B.C. Nagesh said on Friday that there was no difference between the ideologies of the Congress party and the PFI. “I don’t know what Congress leaders know about the RSS. A few of them want votes of Muslims and that is why they are demanding a ban on the RSS,” he said. “RSS is a patriotic organisation. It is not getting any funds from the government. It is not important whether it is registered or not. RSS is working for the welfare of the country. But, PFI is indulging in anti-national activities,” he stated. Also Read Police officers troubling Congress will be taught a lesson: Siddaramaiah “It is being banned as there is evidence to prove the charges. Till date all decisions made by Prime Minister Narendra Modi and Union Minister Amit Shah have been
Read more

Karnataka govt all set to launch free bus travel scheme

Image
Bengaluru: Congress-ruled Karnataka government is all set to launch the Shakthi scheme on Sunday which facilitates free bus travel for all women in state owned Karnataka State Road Transport Corporation (KSRTC), Bengaluru Metropolitan Transport Corporation (BMTC) and other corporations. Chief Minister Siddaramaiah will turn ‘conductor’ to inaugurate the scheme and he will issue free tickets to women travelling from Majestic BMTC bus stop to Vidhana Soudha. Deputy Chief Minister D.K. Shivakumar and Transport Minister Ramalinga Reddy will be present on the occasion. The police will be deputed in all BMTC buses after inauguration of the scheme in Bengaluru to avoid any confusion and untoward incidents until the scheme takes off smoothly. All eight DCPs in Bengaluru have been directed to ensure peace as it is expected that miscreants would create confusion to get political mileage. The jurisdictional police and 2,000 home guards are roped in for the purpose. The Hoysala vehicles will a
Read more