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Sansera Engineering signs MoU with govt, to invest Rs 2,100 crore
Bengaluru: Sansera Engineering Limited, Bengaluru based manufacturer of precision-engineered components for both automotive and non-automotive sectors...
Bengaluru: Sansera Engineering Limited, Bengaluru based manufacturer of precision-engineered components for both automotive and non-automotive sectors signed an MoU with Government of Karnataka to expand its manufacturing capacity in Harohally by investing Rs 2,100 Crore, on Wednesday.
The MoU which took place at Khanija Bhavan in presence of MB Patil, Minister for Large and Medium Industries aims to bolster company’s growth in both both automotive and non-automotive sectors. Dr S Selvakumar, Principal Secretary, Department of Industries and S Sekhar Vasan, Chairman and MD of Sansera signed the agreement.
Under this MoU, Sansera Engineering plans to invest around Rs 2,100 Crore over a period of 3 to 5 years which is estimated to create 3,500 direct and indirect Jobs.
Speaking on the occasion, MB Patil said, Sansera would direct this investment towards expanding its manufacturing capacity over a 55-acre plot in Harohalli of Ramanagara district. Mentioning about the key strategic benefits of the investment, Minister explained that the new facility is expected to boost company’s manufacturing capacity by approximately Rs 3,000 Cr, significantly contributing to Karnataka’s export growth. Further, the company plans to establish a training center to enhance the skills of the local workforce, fostering talent development and employment opportunities, he added.
“Advanced technologies and best practices which will be introduced through this plant would benefit the local industrial ecosystem and promoting innovation”, Patil noted.
F R Singhvi, Joint Managing Director, Rajesh Modi, Company Secretary of Sansera Engineering, and Gunjan Krishna, Commissioner, Department of Commerce and Industries were present.
OTIS seeks 12 acres of land
In another meeting with Minister MB Patil, elevator manufacturer OTIS discussed plans to set up a unit in the Harohalli Industrial Area, with an investment of Rs 135 crore. During the meeting, company representatives requested 12 acres of land at the Harohalli industrial site, to which the minister responded positively. The proposed plan is expected to generate around 220 jobs, according to the Minister.
