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Bengaluru: Japanese automaker Toyota Motor’s Indian unit plans to set up a global 'BizIntel Hub' at KWIN City, the Karnataka government's flagship urban development project coming up between Dabaspete and Doddaballapura, with an initial investment of Rs 1,200 crore over five years.
The state government and Toyota Kirloskar Motor signed a memorandum of understanding Monday in Bengaluru in the presence of chief minister Siddaramaiah and large and medium industries minister MB Patil, the industries department said in a statement.
The BizIntel Hub that would house vehicle manufacturing and testing facilities is coming up on 300 acres allotted by the state government and is expected to generate around 200 jobs.
Siddaramaiah assured full state support for the investment.
"This is the first major investment to materialise in KWIN City," minister Patil said.
Innovation, healthcare and information technology will be the city's three core focus areas, he said.
Seven to eight globally reputed universities, healthcare institutions and research organisations have already expressed interest in setting up a presence there, with agreements expected to be finalised soon, the minister said.
The city is being developed in phases across 5,800 acres, with Phase 1 already under way, the statement said. The overall project is projected to attract investments of Rs 48,000 crore and generate nearly 100,000 jobs.
Industries commissioner Khushboo Goel, Karnataka Industrial Areas Development Board CEO Govind Reddy, Toyota chief technical officer Yoshinori Noritake and senior company representatives were present at the event.
The state government and Toyota Kirloskar Motor signed a memorandum of understanding Monday in Bengaluru in the presence of chief minister Siddaramaiah and large and medium industries minister MB Patil, the industries department said in a statement.
The BizIntel Hub that would house vehicle manufacturing and testing facilities is coming up on 300 acres allotted by the state government and is expected to generate around 200 jobs.
Siddaramaiah assured full state support for the investment.
"This is the first major investment to materialise in KWIN City," minister Patil said.
Innovation, healthcare and information technology will be the city's three core focus areas, he said.
Seven to eight globally reputed universities, healthcare institutions and research organisations have already expressed interest in setting up a presence there, with agreements expected to be finalised soon, the minister said.
The city is being developed in phases across 5,800 acres, with Phase 1 already under way, the statement said. The overall project is projected to attract investments of Rs 48,000 crore and generate nearly 100,000 jobs.
Industries commissioner Khushboo Goel, Karnataka Industrial Areas Development Board CEO Govind Reddy, Toyota chief technical officer Yoshinori Noritake and senior company representatives were present at the event.
