The Japanese company plans investment of Rs.10,000 crore and expected to create 40,000 jobs
Marubeni Corporation leadership team holds meeting with Minister MB Patil
Bengaluru, NFAPost: The leadership team of Marubeni Corporation from Japan which is keen to set up a high-tech industrial park on 720 acres at Bavanahalli near Vemagal of Kolar district met large and medium industries minister MB Patil on Tuesday and discussed taking forward the project.
Speaking on the occasion Minister Patil said that the government was eager to take forward the project and related decisions will be taken after convening a high-level meeting.
The representatives of the company who made a presentation about the project stated that the initial investment for the project is estimated to be Rs 2,800 crore. They added this in turn would bring Rs 8,000 crore in the form of FDI (foreign direct investment) taking the total investment to over Rs 10,000 crore and generating 40,000 jobs. In all it would add $2 billion to the economy of Karnataka, they claimed.
They also informed during the meeting that the Ministry of Economy, Trade and Industry of Japan (MEIT, Japan) had approved the feasibility report on the project.
Marubeni Corporation which is headquartered in Tokyo has developed high-tech industrial parks in countries such as China, Thailand, and the Philippines. It was informed that currently, its projects are underway in Indonesia, Myanmar, Vietnam and a few other countries.
The company caters to the needs of social infrastructure, health, and wellness identifying digital strategy, innovation strategy, smart city and decarbonisation as key sectors.
The delegates of the company apprised the Minister that the company had entered into an MoU with the state government during Global Investors Meet 2022.
Shirozono Kazuaki, Dy. General Manager, Marubeni Corporation, Yoshida Takayuki, General Manager, Marubeni India Pvt. Ltd, Mr Toyoda Takafumi, Project Manager – Next Generation Industrial Park, Marubeni Corporation were among those who represented the company. Selva Kumar, principal secretary, of the Department of Industries attended the meeting.
