Toyota Kirloskar Motor Private Limited (TKML), a subsidiary of Japan's Toyota Motor Corp (TMC), plans to invest another Rs 780 crore at its Bidadi plant near Bangalore.
The company, which has invested around Rs 5,000 crore in India, has approached the Karnataka government for the necessary clearances, said a senior minister in the state cabinet. The company has set up two car manufacturing plants, and is setting up an engine plant at Bidadi. Currently, TKML employs around 5,000 people.
“Toyota has approached the state government with the proposal to invest an additional Rs 780 crore at its Bidadi plant. It also wants additional 16 acres of land for expansion in engine manufacturing and components for its small cars in India,” Murugesh R Nirani, minister for large and medium industries, government of Karnataka, told Business Standard. Nirani said the company's proposal would be discussed by the state high level clearance committee , headed by the chief minister, which clears mega industrial investment projects.
In July, TKML had announced it would increase its production capacity to 310,000 units by 2013, with an investment of Rs 898 crore.
It is in the process of enhancing production at its first plant from 90,000 units to 100,000 units, while production at its second plant is being increased from 120,000 units to 210,000 units. The first plant would manufacture Innova and Fortuner units, while the second plant would manufacture Etios, Etios Liva and Corolla Altis.
