Marubeni Corporation of Japan interested to develop hi-tech industrial park near Kolar

BENGALURU: A high-level delegation of Japanese Marubeni Corporation, which is interested in developing a hi-tech industrial park on 720 acres of land identified at Bavanahalli near Vemagal in Kolar district, discussed the matter with Large and Medium Industries Minister MB Patil on Tuesday.

After listening to the company's statement, the Minister M B Patil said, "The proposal presented by Marubeni Corporation is attractive. It will be studied in detail and the government will take an appropriate decision," he assured.

The company has demonstrated that Rs 2,800 crore will be directly invested in the development of the proposed high-tech industrial park. Then the industrial plots there will be allotted to the interested enterprises. At that stage, another Rs 8,000 crore will flow in through foreign direct investment. In addition, 40,000 job opportunities will be created here. This will add 2 billion dollars to Karnataka's economy as a whole. He explained that the Ministry of Economy, Trade and Industry of Japan has approved the feasibility report for this proposed industrial zone development.

Marubeni Corporation, headquartered in the Japanese capital Tokyo, has already developed such high-tech industrial parks in China, the Philippines, and Thailand. In addition, the delegation informed on the occasion that the company is developing such industrial areas in countries like Indonesia, Myanmar, Vietnam etc.

The company mainly focuses on sectors like social infrastructure, health and medical, wellness. Digital strategy, innovation strategy, smart city, decarbonisation, pharma etc. have been identified under these. Also, it assured that the proposed project is being discussed continuously with Karnataka State Government and KIADB.

A delegation led by Marubeni Corporation Deputy General Manager Shirozono Kajouki, Marubeni India Limited General Manager Takaika Yoshida met the Minister.