Japan's Marubeni Eyes High-Tech Industrial Park in Karnataka
ECONOMY & POLICY

Japan's Marubeni Eyes High-Tech Industrial Park in Karnataka

Japan's Marubeni Corporation has shown keen interest in establishing a cutting-edge industrial park, spreading over 720 acres near Vemagal in the Kolar district of Karnataka, as revealed by M B Patil, the State's Large and Medium Industries Minister. The estimated initial investment for this ambitious project stands at Rs 28 billion.

A delegation from the company recently met with Minister Patil to hold discussions regarding the venture. Patil expressed the government's enthusiasm to push the project forward and stated that important decisions would be made after a high-level meeting. 

The company representatives, during their presentation, emphasised the projected initial investment of Rs 28 billion, which they believed would attract an additional Rs 80 billion in the form of foreign direct investment (FDI). This influx of funds would raise the total investment to over Rs 100 billion and contribute to the creation of 40,000 job opportunities. The delegation also asserted that the project would contribute two billion US dollars to the economy of Karnataka.

Moreover, the Japanese Ministry of Economy, Trade, and Industry has already approved the project's feasibility report, further supporting its viability.

Marubeni Corporation, headquartered in Tokyo, has an impressive track record of developing high-tech industrial parks in countries like China, Thailand, and the Philippines. They have ongoing projects in Indonesia, Myanmar, Vietnam, and other nations as well. The company's expertise lies in catering to the demands of social infrastructure, health, wellness, and implementing digital and innovation strategies. Their focus extends to smart city development and decarbonisation in various sectors.

Japan's Marubeni Corporation has shown keen interest in establishing a cutting-edge industrial park, spreading over 720 acres near Vemagal in the Kolar district of Karnataka, as revealed by M B Patil, the State's Large and Medium Industries Minister. The estimated initial investment for this ambitious project stands at Rs 28 billion.A delegation from the company recently met with Minister Patil to hold discussions regarding the venture. Patil expressed the government's enthusiasm to push the project forward and stated that important decisions would be made after a high-level meeting. The company representatives, during their presentation, emphasised the projected initial investment of Rs 28 billion, which they believed would attract an additional Rs 80 billion in the form of foreign direct investment (FDI). This influx of funds would raise the total investment to over Rs 100 billion and contribute to the creation of 40,000 job opportunities. The delegation also asserted that the project would contribute two billion US dollars to the economy of Karnataka.Moreover, the Japanese Ministry of Economy, Trade, and Industry has already approved the project's feasibility report, further supporting its viability.Marubeni Corporation, headquartered in Tokyo, has an impressive track record of developing high-tech industrial parks in countries like China, Thailand, and the Philippines. They have ongoing projects in Indonesia, Myanmar, Vietnam, and other nations as well. The company's expertise lies in catering to the demands of social infrastructure, health, wellness, and implementing digital and innovation strategies. Their focus extends to smart city development and decarbonisation in various sectors.

Next Story
Infrastructure Energy

GAIL to Set Up Bengaluru CBG Plant Under New Concession Pact

GAIL (India) Limited has signed a 20-year concession agreement with the Bengaluru City Municipal Corporation (BBMP) to set up a compressed biogas (CBG) plant in the city. The project, expected to produce around 10 tonnes of CBG daily, will utilise municipal solid waste as feedstock, contributing to clean energy generation and efficient waste management. The CBG produced will be used in GAIL’s City Gas Distribution network to promote cleaner fuel usage. The initiative aligns with the government’s Sustainable Alternative Towards Affordable Transportation (SATAT) scheme and GAIL’s broader ..

Next Story
Infrastructure Energy

Uttarakhand HC Lifts 31-Year Ban on ONGC’s Contractual Hiring

The Uttarakhand High Court has lifted a 31-year-old ban on the Oil and Natural Gas Corporation (ONGC) from hiring contractual workers, a restriction imposed in 1993. The decision enables ONGC’s Dehradun establishment to employ personnel on a contractual basis to meet operational requirements. The long-standing prohibition had limited ONGC’s ability to fill vacancies in its technical and administrative departments, often leading to project delays and higher dependence on outsourcing. With the court’s directive, the public sector enterprise can now proceed with temporary recruitments whil..

Next Story
Infrastructure Energy

JSW Energy’s Utkal Unit Bags 400 MW, 25-Year Power Supply Deal

JSW Energy Limited announced that its subsidiary, JSW Energy (Utkal) Limited, has secured a Letter of Award (LoA) from Karnataka’s Power Company of Karnataka Limited (PCKL) for the supply of 400 MW of electricity for 25 years. The agreement is part of a competitive bidding process for long-term procurement of power to meet the state’s growing energy demand. The 400 MW capacity will be supplied from JSW Energy’s upcoming thermal power project in Odisha. This development strengthens JSW Energy’s presence in the southern market and aligns with its strategy to enhance long-term contracte..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?