Karnataka to develop machine tool park near Tumakuru

Karnataka to develop machine tool park near Tumakuru

The Karnataka government is developing a dedicated park for machine tools in an area of more than 500 acres at an investment of over Rs 500 crore, according to Large & Medium Industries Minister R V Deshpande.

The proposed park will be developed adjacent to the upcoming Chennai-Bengaluru-Chitradurga Industrial Corridor, he said.

"Karnataka is developing Tumakuru as a major industrial node on the proposed Chennai-Bengaluru-Chitradurga Industrial corridor in an area of 50 sq km. This node is being developed as a model industrial cluster with all infrastructure facilities for MSMEs and OEMs," he said, after inaugurating the two-day summit on Vendor Development and Investors Summit on Thursday at Bangalore International Exhibition Centre (BIEC).

The summit is expected to act as a common platform for central and state PSUs, mega and large units in identifying vendors of their choice in terms of production capacity and quality standards. This meet is also aimed at helping MSMEs understand the need of the OEMs.

The state government is also focusing on small-scale industries at the summit, as 80% of 13.91 lakh jobs created in the last four years were in the SSI sector, Deshpande said.

Speaking on the occasion, IKEA India CEO Peter Betzel said the Swedish furniture firm is planning to open three stores in Bengaluru in the near future. IKEA Group has acquired 14 acres land in Bengaluru to set up its third store in the country after Hyderabad and Mumbai.

The Bengaluru site is located in Nagasandra on Tumkur road, north of the city. It will house a 4.5 lakh sq feet store that is expected to get more than five million visitors per year. The store will directly employ 800 people. Betzel assured that 50% of the workers will be women. IKEA has partnered with Project Disha to skill women for its retail business.

The event also marked the laying of foundation stone for Aerospace Common Finishing Facility Center (ACFFC) at Devanahalli. ACFFC will act as an expert organisation that will benefit hundreds of small-scale units in Bengaluru and adjoining areas producing tools and aviation components, assembling units and testing equipment.

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