BANGALORE: German auto component maker Bosch today said it would invest Rs 1,500 crore on Bidadi and Adugodi projects in the state over the next seven years.
"In spite of economic downturn we continue with our projects at Bidadi and Adugodi, and have planned to invest Rs 1,500 crore in the next seven years on these two projects in Karnataka," Bosch Ltd Joint MD Soumitra Bhattacharya said at the ground breaking ceremony of company's new manufacturing location at Bidadi.
Stating that 15,000 out of total 26,500 Bosch employees work in Karnataka, Bhattacharya said, "we will create more employment both direct and indirect in the neighborhood areas and will bring back Karnataka among the top manufacturing states in India."
According to company officials, Bosch will relocate its existing manufacturing plant in Bangalore area from Adugodi to Bidadi, while Adugodi plant would be used for further development of Bosch R&D Centre and Robert Bosch Engineering & Business Solutions (India) to create a Technology and Engineering centre.
Bosch has acquired 97 acres of land in Bidadi for the construction of new manufacturing facility, and will be investing over Rs 250 crores for the initial development of the facility.
Bidadi is a town in Ramanagara district located about 32 km from Bangalore, situated on the Bangalore - Mysore expressway.
Commenting on the initiative Bosch Limited Managing Director Steffen Berns said "Though the current business situation is tough, this move will help us cater to the growing business needs of the Indian market in the long term."
Bidadi plant is expected to be ready for commencement of production by the third quarter of 2015 with re-location of around 850 employees. New Bidadi facility will house the production of several components of diesel fuel injection systems, the company officials said.
Bidadi is the fifth manufacturing location for Bosch alongwith Naganathpura, Adugodi, Hejjala and Kumbalgodu.
SOURCE:The Economic Times