The Hindu : Karnataka / Bangalore News : Toyota to invest Rs. 3,200 cr. more

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Wednesday, Jan 07, 2009
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Karnataka

Karnataka - Bangalore

Toyota to invest Rs. 3,200 cr. more

Special Correspondent

It had planned Rs. 1,700 cr. additional investment
Industries Minister Nirani visits company in Japan

BANGALORE: Toyota Motor Corporation of Japan has decided to take up expansion work of its car and van manufacturing unit at Bidadi on Mysore Road on the outskirts of Bangalore city with an additional investment of Rs. 3,200 crore.

Disclosing this to presspersons here on Tuesday, Large and Medium Industries Minister Murugesh R. Nirani, who visited the company in Japan recently, said the company that originally planned an additional investment of Rs. 1,700 crore.

However, it decided to increase investment by almost double, which, the Minister said, was a good augury for the industrial development in the State.

The company had been allotted 418 acres, he said and added that it had utilised only 15 per cent of the land.

He said that three foreign investors had requested the department to delay the allotment of land to them by three months in view of the economic slowdown.

The Minister said that a land bank had been created to meet the requirement for allotment [of land] to entrepreneurs and the department had received details in this connection from 18 districts.

Committee

A land audit committee, headed by the principal secretary of the department, had been created to go into complaints of entrepreneurs not utilising/starting industries in the land allotted to them or using it for real estate purpose. Some of them had been issued notices forcing a few of them to start work.

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