Industries Minister MB Patil along with Japanese business representatives in Tokyo.
Bengaluru: Japan’s Hosoda Holdings will establish a solar cell manufacturing unit in Karnataka at an estimated cost of ₹882 crore, Industries Minister M. B. Patil recently announced.
The project will be implemented in collaboration with Tong Thar Energy Solutions (TTES). Initially, TTES had planned an investment of ₹490 crore and the agreement for the project was signed at the Global Investors Meet in February.
During a meeting with Hosoda Holdings Chairman Nakamura San on Friday, Patil said the partnership with TTES had increased the total investment and the project was expected to generate employment for 500 people in Karnataka.
Patil officially confirmed the investment increase and welcomed the company’s decision, noting it aligned with the state government’s focus on solar power generation.
Japanese sports equipment manufacturer Inabata also assured the Karnataka delegation that its unit would start operations by 2027.
The delegation also confirmed that necessary land acquisition and approvals would be provided promptly.
Additionally, Tetsujikawa, a company specializing in engraving and die-cutting technology, informed the delegation about plans to expand its manufacturing operations in Karnataka.
The high-level delegation included Dr. S. Selvakumar, Principal Secretary, Industries and Commissioner Gunjan Krishna among other officials.
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