Karnataka's State High Level Clearance Committee has cleared Toyota Kirloskar Auto Parts' Rs 750 crore investment proposal.
Briefing reporters after the committee's meet, Mr Murgesh R. Nirani, Minister for Large and Medium Industries said, “The SHLCC headed by Chief Minister Mr D.V. Sadananada Gowda has cleared Toyota Kirloskar Auto Parts proposal to establish casting and machining of engine parts for automobiles.”
The company is setting up the facility adjacent to their existing factory plot at Bidadi Industrial Area in Ramanagar district.
The new facility is likely to create employment to 150 people.
The senior company officials had said that Toyota Kirloskar is planning to achieve higher degree of localisation on the Etios series from the current level of 70 per cent.
Transmissions plant
Toyota Kirloskar Auto Parts also has plans to expand its transmissions plant to supply Etios transmissions by next year.
At the committee, the Government also has approved nine projects in automobile sector with an investment of Rs 3,628 crore with employment potential of 7,821 people.
Mr Nirani said, “These projects are proposed in Bangalore rural, Kolar and Ramanagar districts. This shows the strength of our State in the automobile sector.”