MoU signed for Toyota BizIntel Hub in KWIN City at an outlay of Rs 1 200 cr

Bengaluru, May 25 (PTI) Toyota Kirloskar Motor will establish its global-standard ‘BizIntel Hub’ in KWIN City, the ambitious project being developed by the state government between Dabaspete and Doddaballapura, with an investment of Rs 1,200 crore, officials said on Monday.

The agreement was signed on Monday in the presence of Chief Minister Siddaramaiah and Large and Medium Industries Minister M B Patil by Principal Secretary of the Industries Department S. Selvakumar and Toyota’s COO and Director of Special Projects, Sudeep Dalvi, they said.

Speaking on the occasion, Siddaramaiah assured full support for the investment and said he was delighted to learn that this would be the first facility of its kind in the world.

Minister Patil said this was the first major investment to materialise in KWIN City. The company will invest Rs 1,200 crore as initial capital over the next five years, generating around 200 jobs.

"About 300 acres of land will be allotted to Toyota for the project. Vehicle manufacturing, testing activities and the establishment of an advanced automobile manufacturing facility will all be undertaken there," he said, in a statement.

Patil said the project would prove to be a major opportunity for the youth of the State.

He further said that innovation, healthcare and information technology would be given top priority in KWIN City.

According to him, seven to eight globally reputed universities, healthcare institutions and research organisations have already expressed interest in investing there, and agreements with them too would be finalised at the earliest.

The ultra-modern city will be developed in phases across a total area of 5,800 acres, with the first phase of development already under progress, he said.

Minister Patil said the overall project is expected to attract investments worth Rs 48,000 crore and generate nearly one lakh jobs.

(This story has not been edited by THE WEEK and is auto-generated from PTI)