Chief Minister of Karnataka Siddaramaiah laid the foundation stone for the Tata Strategic Engineering Division’s (Tata SED) defence production facility at an investment of Rs. 450 crore at Vemagal.
Tata SED has been a leading private-sector player in the indigenous Design, Development, Production, Integration, Supply and Life-cycle Support of mission critical Defence Systems of Strategic importance.
Tata SED has planned to invest Rs. 450 crore over the next one year to create a state-of-the-art integrated digital design to manufacturing facility for large systems engineering and integration. The facility is the largest strategic electronics manufacturing unit approved under the MSIPS program of DeitY, Government of India.
Also, the Karnataka government has been approached for additional land adjacent to the present site at Vemagal under the state’s new industrial policy.
CM Siddaramaiah said that he has requested Prime Minister Narendra Modi to consider setting up a dedicated and exclusive Defence Park Karnataka.
CM Siddaramaiah also inaugurated the new manufacturing plant of Shivam Autotech, a unit of Hero Motors.
This plant will cater to the requirements of companies like Bosch, Mando, INEL, for four wheeler components of alternators, starter motor, electronic steering systems, etc.
This manufacturing unit will focus on import substitutes which will enable them to save the precious foreign exchange for the country as well as will cater to export market.
Company will soon pursue further expansion(Phase 2) and has 10 acres of land in it’s possession.
Two more projects to come up
Chief Minister of Karnataka cleared two investment projects worth Rs 558 crore of investment.
State High Level Clearance Committee chaired by Chief Minister of Karnataka cleared two investment projects worth Rs 558 crore of investment.
Toyota Industries will to set up a textile machinery manufacturing unit with an investment of Rs 410 crore at Vasanthanarasapura Industrial Area in Tumakuru district.
Rs 148-crore Ecomaister Beads India Limited’s manufacturing plant at Toranagallu village in Ballari district.
GlaxoSmithKline Pharmaceuticals’s Rs 1,000 crore pharmaceutical manufacturing unit’s foundation stone was laid by Chief Minister Siddaramaiah at Vemagal.
CM laid the foundation stone in the presence of United Kingdom’s Minister of State for Trade and Investment Francis Maude.
It will be fully operational in 2017 and will make more than 8 billion tablets and 1 billion capsules for the Indian market. The facility will be built on a 50-acre site and will be the GSK’s largest manufacturing facility in India. The facility will also include a warehouse, site infrastructure, employee welfare centre and utilities to support the manufacturing and packing of medicines.
Annaswamy Vaideesh, managing director, GlaxoSmithkline Pharmaceuticals, said that the Karnataka government has been very supportive of this initiative, and sees it as a positive sign for the government to encourage such moves.
CM said, “Establishment of industries will boost economic activities. It will generate jobs and is the panacea for the ills such as poverty and unemployment. Karnataka is an investor-friendly State and will give investors all support to start their ventures”.
The new industrial policy of the state is the “most progressive” in the country, he added. “Under the new policy, jobs will be given to the families whose lands are acquired for industries”. Industries Minister R V Deshpande, Health Minister U T Khader and others were also present.