The proposal of Toyota Industries India Private Limited to set up a textile and spinning machinery manufacturing unit with an investment of Rs 410 crore at Vasanthanarasapura Industrial Area in Tumakuru district was cleared by the Karnataka State High-Level Clearance Committee on Monday.
The proposed unit, which was cleared by the SHLCC chaired by Chief Minister Siddaramaiah, will provide employment to 800 people.
The total number of projects that have got approval in 2015-16 by the SHLCC touched 78 with an investment of Rs. 24,018.99 crore. Together, all 78 projects are expected to create 16,328 jobs.
In all, since May 2013, the government has approved industrial projects with total investment of Rs 1.20 lakh crore with employment potential for 2.43 lakh people, according to a release from the Commerce and Industries Department.
Toyota Industries is a Japanese machine maker. Originally a manufacturer of automatic looms. Toyota Industries is active in 5 business areas: automotive, materials handling, electronics, logistics and textile machinery.
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