City Kemp News
Taiwan’s companies signed a MoU with the Karnataka Government for an investment of $500 million in an Electronic Manufacturing Cluster.
Taiwan Electrical and Electronic Manufacturers’ Association (TEEMA) met Industries Minister R V Deshpande and signed the MoU. Companies such as $ 29.4 billion Getac Technology Corp, maker of rugged handheld devices and laptops for industrial and military use, MobileTron electronics that makes automotive electronics and Waffer Technology Corp, which manufactures components and systems for laptops and smartphones were part of the association which signed the MoU.
The Taiwan Electronic Manufacturing Cluster (TEMC) will come up on 100 acres of land near Devanahalli IT Park.
KIADB will initially allocate 100 acres of land for this electronics manufacturing hub & investments will start flowing in about 6-9 months. An estimated 20-30,000 jobs are expected to be created in the TEMC.
“Every state they said please take the land. It was difficult. In Karnataka, they have land that is developed and we can start a factory tomorrow,” said Francis Tsai, chairman of TEEMA.
Jockey to enter Kalaburagi
“Jockey, the hosiery company, will open a new manufacturing plant in Kalaburagi and employ about 3000 people”: Industries Minister RV Deshpande. In a boost to manufacturing in Hyderabad Karnataka, Jockey has decided to open a plant near Kalaburagi on 5 acres of land. The Government also announced that it has acquired 1000 acres for a mega food park in Yadgir.
To promote investment in HK region, Govt is fast tracking the completion of Kalaburagi airport and has given very good incentives under the new industrial policy for companies which invest in these backward regions.
Minister Deshpande is currently on tour of Mexico and Peru to attract investment to Karnataka in the fields of aerospace, Agro and food processing, pharma and tourism.
In the run up to the Global Investor Summit, “Invest Karnataka 2015”, to be held in November, minister Deshpande and CM Siddaramaiah will hold investment road shows all over the world and in India to attract companies to come invest in Karnataka.
GlaxoSmithKline Pharmaceuticals (GSK) officials visited Chief Minister Siddaramaiah to invite him for laying the foundation stone of their Rs. 1000 crore manufacturing unit to come up in Vemagal, Kolar.
GSK has been allotted 50 acres by the Karnataka Industrial Area Development Board (KIADB) at Vemagal to set up the mega manufacturing unit. This will be the first manufacturing unit of the company built in the last 10 years.
The greenfield manufacturing facility will have an installed capacity of over 9 billion tablets and capsules per year and will be operational by 2017.
City Kemp News