Rs 410-cr Toyota project gets green signal

The proposal of Toyota Industries India Private Limited to set up a textile and spinning machinery manufacturing unit with an investment of Rs 410 crore at Vasanthanarasapura Industrial Area in Tumakuru district was cleared by the Karnataka State High-Level Clearance Committee on September 14, 2015.

The proposed unit, which was cleared by the SHLCC and chaired by Chief Minister Siddaramaiah, will provide employment to 800 people. Toyota Industries is a Japanese machine maker. Originally a manufacturer of automatic looms. Toyota Industries is active in 5 business areas: automotive, materials handling, electronics, logistics and textile machinery.

The total number of projects that have got approval in 2015-16 by the SHLCC touched 78 with an investment of Rs 24,018.99 crore. Together, all 78 projects are expected to create 16,328 jobs. In all, since May 2013, the government has approved industrial projects with total investment of Rs 1.20 lakh crore with good employment potential.