TVS to set up Rs 500 crore manufacturing facility near Mysore

By SiliconIndia   |   Tuesday, 22 April 2003, 07:00 Hrs
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BANGALORE: TVS Motor Company Limited has proposed to set up a Rs 500 crore new facility at Nanjanagud in Mysore district for manufacture of two wheelers, three/four wheel (quadra cycles) automotive vehicles of five lakh numbers per annum, according to a senior Karnataka Minister.

The project (Unit-II) would provide direct employment to 900 people and create indirect employment opportunities for more than 4,500 people, Large and Medium Industries Minister, RV Deshpande told reporters on Tuesday.

TVS' proposal was among the 12 projects with proposed investment of Rs 3,620.33 crore and employment potential of the order of 68,364, cleared by the high level committee (HLC) meeting chaired by Chief Minister SM Krishna on Monday.

Stating that the new project would contribute to further development of ancillary/vendor units and suppliers in and around Mysore and Bangalore, Deshpande noted that General Motors, USA, had recently chosen to set up its global R&D facility in Bangalore.

The HLC gave the green signal to Jindal Vijayanagar Steel Limited to set up a "slime disposal facility" at Toranagallu in Bellary District with an additional investment of Rs 11.76 crore.

The establishment of this facility would enable the company to efficiently run its iron ore beneficiation plant and ensure improving capacity utilisation of the existing steel plant, Deshpande added.

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