Japan-based Marubeni Corp mulls ₹10,000 crore investment in Karnataka; to set up ‘high-tech’ industrial park

Japan's Marubeni Corporation proposed to invest over ₹10,000 crore to establish a high-tech industrial park in Karnataka, which is set to create 40,000 jobs.

Published on: Jul 19, 2023, 16:43:06 IST

By Yamini C S

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Japan-based company Marubeni Corporation has proposed to invest more than ₹10,000 crore to set up a “high-tech” industrial park in Karnataka, the state's Large and Medium Industries Minister M B Patil said on Tuesday. The Tokyo-headquartered company said the investment will create 40,000 jobs and add two billion (US) dollars to the economy of Karnataka, according to a statement from the minister's office.

Minister MB Patil on Tuesday held a meeting with the delegates of the company. (PTI) (HT_PRINT)

The company has identified land of around 720 acres in the Kolar district, news agency PTI reported. Patil on Tuesday held a meeting with the delegates of the company, in which it was revealed that Marubeni will invest ₹2,800 crore initially, which will in turn bring ₹10,000 crore in the form of Foreign Direct Investment (FDI).

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"They added (that) this (the initial investment) in turn would bring ₹8,000 crore in the form of FDI (foreign direct investment) taking the total investment to over ₹10,000 crore and generating 40,000 jobs. In all, it would add two billion (US) dollars to the economy of Karnataka, they claimed”, the statement said.

In this light, Patil said, “The government is eager to take the project forward and related decisions would be undertaken."

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Japan's Ministry of Economy, Trade and Industry has already approved the project's feasibility report, the delegation said during the high-level meeting. The firm has developed industrial parks in China, Thailand, and the Philippines, with similar projects coming up in Indonesia, Myanmar, Vietnam and a few other countries, the stated further stated.

(With PTI inputs)

ABOUT THE AUTHOR
Yamini C S
Yamini CS is a Senior Content Producer at Hindustan Times with nearly six years of experience in digital journalism. She is part of the India News desk, where she works on a wide range of stories cutting across civic issues, city-based developments, politics, governance, public policy, breaking news, trending topics, and international affairs that have an impact on India. Her role involves tracking fast-moving developments, verifying information from official and on-ground sources, and presenting news in a clear, accessible format for a digital-first audience. A significant part of her work includes handling live blogs during major news events, such as elections, court verdicts, political developments, civic disruptions, protests, weather-related alerts, and unfolding national or international incidents. Through live coverage, she focuses on timely updates to help readers follow complex stories as they evolve. Before moving to the broader India News desk, Yamini was associated with the Bengaluru desk at Hindustan Times, where she extensively covered urban governance, infrastructure, traffic and transport issues, weather events, public grievances, and civic administration in the city. This experience strengthened her grounding in city reporting and sharpened her focus on citizen-centric journalism. She began her career as a correspondent with Reuters after completing a postgraduate diploma in journalism from the Indian Institute of Journalism and New Media. Her early training instilled a strong emphasis on accuracy, sourcing, and news ethics, which continue to shape her reporting style. Outside of work, Yamini enjoys reading across genres, listening to music, and spending time with her family, which help her maintain balance in a fast-paced newsroom environment.Read More

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