<p> Scripting a shift in emphasis from services-oriented industries, Karnataka has kick-started a Big Bang manufacturing journey with four companies on Tuesday announcing an investment of around Rs 2,000 crore at KIADB Industrial Area, Vemgal, Kolar.<br /><br /></p>.<p>The investors are Mitsubishi Elevators (22 acres), GlaxoSmithKline (GSK) Pharmaceuticals (50 acres), TATA Power SED (50 acres,) and Shivam Autotech (10 acres). All of them have take possession of land at Kolar.<br /><br />GSK has chosen Karnataka to set up a state-of-the-art pharmaceutical formulation plant, the first new manufacturing facility by GSK in 15 years anywhere in the world. GSK’s investment would be around Rs 1,000 crore with an employment potential for over 500 persons.<br /><br />Karnataka Chief Minister Siddaramaiah said, “GlaxoSmithKline Pharmaceuticals’ state-of-the-art plant at Kolar is yet another major investment by an MNC in Karnataka which hopefully, will prompt other companies to come and invest in the state.”<br /><br />Lord Francis Maude of Horsham, the United Kingdom’s Minister of State for Trade and Investment, said the deepening commercial ties between UK and Karnataka will complement Prime Minister Narendra Modi’s aspirations for India.<br /><br />Tata to invest Rs 700 cr<br /><br />Tata Power, through its Strategic Engineering Division (Tata Power SED), has been leading the indigenous design, development, production, integration, supply, and lifecycle support of defence systems of strategic importance for close to four decades.<br />TATA Power SED CEO Rahul Choudhry said the company will invest around 700 crore and provide employment to over 500.<br /><br />Shivam Autotech unveiled its phase-2 expansion plans at Vemgal. The company, formerly known as Munjal Auto Components (MAC), commenced operations in 1999 as an autonomous wing of the Hero Group. The company will manufacture auto components, most of which are import substitutes, with an investment of Rs 250 crore, and simultaneously take up expansion of its second phase which will give jobs to over 1,000. Mitsubishi Elevators is setting up a greenfield plant with an investment of Rs 170 crore.<br /><br />Kolar to be high-end hub<br /><br />Additional Chief Secretary (Commerce and Industries Department) K Ratna Prabha told Deccan Herald that the state plans to make Kolar a high-end manufacturing and design hub with a focus on automobile, hi-tech, and defence industries. Already Mahindra, Honda, Scania, and Volvo are present in the Kolar and Hoskote regions.<br /><br />“Today is a historic day in the industrialisation of Karnataka. Major companies across varied sectors have come forward to invest in Vemgal to the tune of Rs 2,000-crore plus and generate employment for over 2,300 people,”she said.<br /><br /></p>
<p> Scripting a shift in emphasis from services-oriented industries, Karnataka has kick-started a Big Bang manufacturing journey with four companies on Tuesday announcing an investment of around Rs 2,000 crore at KIADB Industrial Area, Vemgal, Kolar.<br /><br /></p>.<p>The investors are Mitsubishi Elevators (22 acres), GlaxoSmithKline (GSK) Pharmaceuticals (50 acres), TATA Power SED (50 acres,) and Shivam Autotech (10 acres). All of them have take possession of land at Kolar.<br /><br />GSK has chosen Karnataka to set up a state-of-the-art pharmaceutical formulation plant, the first new manufacturing facility by GSK in 15 years anywhere in the world. GSK’s investment would be around Rs 1,000 crore with an employment potential for over 500 persons.<br /><br />Karnataka Chief Minister Siddaramaiah said, “GlaxoSmithKline Pharmaceuticals’ state-of-the-art plant at Kolar is yet another major investment by an MNC in Karnataka which hopefully, will prompt other companies to come and invest in the state.”<br /><br />Lord Francis Maude of Horsham, the United Kingdom’s Minister of State for Trade and Investment, said the deepening commercial ties between UK and Karnataka will complement Prime Minister Narendra Modi’s aspirations for India.<br /><br />Tata to invest Rs 700 cr<br /><br />Tata Power, through its Strategic Engineering Division (Tata Power SED), has been leading the indigenous design, development, production, integration, supply, and lifecycle support of defence systems of strategic importance for close to four decades.<br />TATA Power SED CEO Rahul Choudhry said the company will invest around 700 crore and provide employment to over 500.<br /><br />Shivam Autotech unveiled its phase-2 expansion plans at Vemgal. The company, formerly known as Munjal Auto Components (MAC), commenced operations in 1999 as an autonomous wing of the Hero Group. The company will manufacture auto components, most of which are import substitutes, with an investment of Rs 250 crore, and simultaneously take up expansion of its second phase which will give jobs to over 1,000. Mitsubishi Elevators is setting up a greenfield plant with an investment of Rs 170 crore.<br /><br />Kolar to be high-end hub<br /><br />Additional Chief Secretary (Commerce and Industries Department) K Ratna Prabha told Deccan Herald that the state plans to make Kolar a high-end manufacturing and design hub with a focus on automobile, hi-tech, and defence industries. Already Mahindra, Honda, Scania, and Volvo are present in the Kolar and Hoskote regions.<br /><br />“Today is a historic day in the industrialisation of Karnataka. Major companies across varied sectors have come forward to invest in Vemgal to the tune of Rs 2,000-crore plus and generate employment for over 2,300 people,”she said.<br /><br /></p>
