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Tata Technologies express interest to invest Rs 2,000 crore in K’taka

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Tata Technologies express interest to invest Rs 2,000 crore in K’takaJuly 12, 2023

Bengaluru, July 12 (IANS) Tata Technologies has come forward to set up three Common Engineering Facilities Centres (CEFCs) in the state by investing Rs. 2,000 crore.

Representatives of the leadership team of the company met large and medium industries minister MB Patil at Vidhana Sabha on Wednesday and submitted the proposal in this regard.

Minister said that the company has intended to set up these centres to facilitate particularly the MSMEs. The proposal is to set up the centres through the PPP model where Tata Technologies will have 70 per cent stakes and the rest 30 per cent stakes will be that of the state government, he said.

This is claimed to be the first proposal for setting up such centres for MSMEs. Each centre is estimated to cost about Rs. 630 crores.

The CEF centres will cater to Advanced Manufacturing 4.0, Electric Vehicle Testing and Aerospace and Defence and vastly benefit the upcoming MSMEs and startups in these sectors, he explained.

Welcoming the proposal Patil said that the government has decided to give preference to strengthening the MSME sector.

He added that each CEF centre would require about 5 acres of land and a decision on providing it will be taken in the coming days.

Pawan Bhageria, President, Pushkaraj, Koulgud, Vice President, Praveen Diwekar, Head (Manufacturing) of Tata Technologies, S.Selva Kumar, Principal Secretary, Gunjan Krishna, Commissioner, Department of Industries were present.

–IANS

mka/dan

https://ians.in/detail/tata-technologies-express-interest-to-invest-rs-2000-crore-in-ktaka–20230712181507/

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