Bengaluru: Toyota Kirloskar Motor will soon establish its global-standard ‘BizIntel Hub’ in KWIN City, the ambitious project being developed by the Karnataka government between Dabaspete and Doddaballapura in Northern Bengaluru, with an investment of Rs. 1,200 crore.
The agreement was signed on Monday at ‘Kaveri’ in the presence of Chief Minister Siddaramaiah and Industries Minister M. B. Patil, by Principal Secretary (Industries) S. Selvakumar and Toyota’s COO and Director of Special Projects, Sudeep Dalvi.
Speaking on the occasion, the Chief Minister assured full support for the investment and said he was delighted to learn that this would be the first facility of its kind in the world.
Minister Patil said this was the first major investment to materialise in KWIN City.
“The company will invest Rs. 1,200 crore as initial capital over the next five years, generating around 200 jobs. About 300 acres will be allotted to Toyota for the project. Vehicle manufacturing, testing activities and the establishment of an advanced automobile manufacturing facility will all be undertaken there. The project will prove to be a major opportunity for the youth of the State,” he said.
Patil further said that innovation, healthcare and information technology would be given top priority in KWIN City. “Seven to eight globally reputed universities, healthcare institutions and research organisations have already expressed interest in investing there, and agreements with them too will be finalised at the earliest,” he added.
The ultra-modern city will be developed in phases across a total area of 5,800 acres, with the first phase of development already under progress.
Patil said the overall project was expected to attract investments worth Rs. 48,000 crore and generate nearly 100,000 jobs.
