Toyota Kirloskar Motor is set to invest ₹1,200 crore to establish its global BizIntel Hub in Karnataka’s KWIN City, CM Siddaramaiah announced on Monday.
Speaking on the occasion, Siddaramaiah assured the company of the government’s full support for the investment. He said he was pleased to learn that the proposed facility would be the first of its kind in the world.
First major investment announced in KWIN City
Industries Minister M. B. Patil said this is the first investment to be announced in KWIN City.
The company will invest ₹1,200 crore in initial capital expenditure over five years, creating around 200 jobs. Toyota will be allotted 300 acres of land for the project.
The facility will undertake vehicle manufacturing, testing, and the development of advanced automotive production infrastructure.
KWIN City project aims to attract ₹48,000 crore
Patil said seven to eight globally renowned universities, healthcare institutions, and research organisations have already expressed interest in investing in KWIN City.
The city will be developed in phases across 5,800 acres, with the first phase already underway. The project is expected to attract investments of ₹48,000 crore and generate around one lakh jobs, he added.
At an event held on Monday at Vidhana Soudha’s Kaveri residence, S. Selvakumar and Sudip Dalvi signed the agreement in the presence of Siddaramaiah and Patil.