Japan's Hosoda Holdings to set up solar cell plant in Karnataka

Bengaluru: Japan’s Hosoda Holdings will establish a solar cell manufacturing unit in Karnataka at an estimated cost of Rs 882 crore, Industries Minister M B Patil said on Friday.

The project will be implemented in collaboration with Tong Thar Energy Solutions (TTES). Initially, TTES had planned an investment of Rs 490 crore. The agreement for the project was signed at the Global Investors Meet in February.

A delegation, led by Patil, is in Japan to attract investments into the state. The delegation held a meeting with Hosoda Holdings Chairman Nakamura San on Friday regarding the proposed project.

The partnership with TTES has increased the total investment, and the project is expected to generate employment for 500 people, Patil said in a statement.

He also confirmed the increase in the proposed investment and welcomed the company’s decision, noting it aligns with the state government’s focus on solar power generation.

Japanese sports equipment manufacturer Inabata has assured the Karnataka delegation that its unit will start operations by 2027. The delegation also confirmed that necessary land acquisition and approvals will be provided promptly.

Additionally, Tetsujikawa, a company specialising in engraving and die-cutting technology, informed the delegation about its plans to expand its manufacturing operations in Karnataka.

Tsujikawa has been operational in Karnataka since 2013 through Tsujikawa India Pvt Ltd located at KIADB Industrial Area in Malur of Kolar district. The company reaffirmed its plans to expand its manufacturing presence in the state to cater to the growing demand from hygiene and medical industries.

The government of Karnataka assured full support to Tsujikawa’s expansion journey, reinforcing the state’s commitment to nurturing high-value, advanced manufacturing investments.

Patil was accompanied by senior officials, including Selvakumar S, Principal Secretary, Department of Commerce and Industries, and Gunjan Krishna, Commissioner for Industrial Development.