Toyota Kirloskar Auto Parts is set to make an investment of INR5bn to build an automotive component manufacturing plant in Bidadi, Karnataka state.
The state’s clearance committee approved of the plan and gave the green signal to the component makers for the plant near Bangalore, according to Car Trade.
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The new plant would usher in 150 new jobs in Bangalore.
Toyota Kirloskar plans to manufacture around 240,000 castings for engine parts and 120,000 units of machine parts. The company has requested an additional 17 acres of land from the government for the plant. The requested land would be allotted to the company only after it acquires assent from 80% of the various landowners. The plant has been granted a supply of 600,000L of water for use each day.
Toyota Kirloskar senior VP of Administration, Finance and Human Resources, P T Parasuraman, said, “We have signed a MoU with the state government for an investment of INR5bn for the new capacity. As part of the new investment, we would manufacture petrol engine parts and transmission units for Toyota’s small car, the Etios Liva, and the Etios sedan. We will export 55% of the 240,000 transmission units to Toyota’s Brazil facility, while the remaining 45% would be used for domestic consumption.”
The company is looking to expand its exports by manufacturing engines at the proposed plant. It would also build and supply gearboxes for the Etios and Etios Liva models by early 2013.
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