Kirloskar to invest Rs 3,000 crore in Karnataka: Minister MB Patil

Karnataka minister MB Patil

Kirloskar Ferrous Industries will invest Rs 3,000 crore in its Hiriyuru plant in Karnataka over the next three years, said MB Patil, Karnataka Minister of Large and Medium Scale Industries

Alongside, several major firms including Wipro PARI, Atlas Copco, Bel-Rise Industries, Finolex, and Fluid Controls Limited have shown interest in investing in the state.

Patil said on November 4 that these companies, which are ready to bring in new investments, will be extended full support from the government in terms of land, infrastructure, and other facilities.

Accompanied by a high-level delegation from the Department of Industries and Commerce, the minister conducted a roadshow in Pune and held discussions with several prominent industrialists regarding investment opportunities in Karnataka.

Patil said that Kirloskar Ferrous already has a unit at Hiriyuru in Chitradurga district and plans to upgrade it. "The company intends to start sponge pipe production and enhance the capacity of its steel manufacturing unit. It will also increase iron ore processing and modernise its foundry operations" he said.

Highlighting the company’s contribution to the local economy, the minister said that nearly 99 percent of its employees are Kannadigas. “This will further strengthen regional economic growth and promote inclusive development,” he said. Kirloskar has also been contributing 2 percent of its profits to its CSR fund for over 20 years, with a focus on improving healthcare facilities in rural areas, he added.

Wipro PARI has already set up an electronic copper laminate manufacturing unit in Karnataka. "Construction began two days ago at the KIADB industrial area in Adinarayana Hosahalli, near Doddaballapura. The company also plans to establish a Smart Robotics Laboratory there" said Patil.

Sweden-based Atlas Copco, known for sustainable industrial manufacturing, had acquired Bengaluru-headquartered HHV Pumps in 2021. The company now plans to expand its production operations in Karnataka. The state delegation briefed its senior executives on Karnataka’s industry-friendly environment and policies, Patil said.

Bel-Rise Industries, which has made a mark in the aerospace and defence sectors, already operates units at Narsapura in Kolara and Beluru Industrial Area in Dharawada. The company recently acquired H-One Private Limited and has sought 25 acres of land in Mysuru to expand its operations. This proposal will be reviewed, Patil said.

Finolex, known for its PVC pipes and fittings, is expected to set up a unit in Karnataka, according to the minister. Meanwhile, Fluid Controls Limited has proposed an investment of Rs 90 crore and has requested five acres of land, which will be allotted soon, he said.