Karnataka: MB Patil-Led Team in Japan Discusses Projects with Sumitomo, Yaskawa, JFE Shoji
Yaskawa confirmed its investment for establishing a motion control and variable frequency drives unit in Bengaluru
Vijayapura: Japanese majors Sumitomo, JFE Shoji and Yaskawa have assured fresh investments and collaborations with Karnataka, boosting the state’s industrial prospects. While Sumitomo confirmed an investment of Rs 2,345 crore in a steel manufacturing plant at Koppal, the state delegation held talks with JFE Shoji on the revival of the Hubballi-based New Government Electrical Factory (NGEF).
Yaskawa confirmed its investment for establishing a motion control and variable frequency drives unit in Bengaluru.
On the third day of the visit, the delegation held talks with senior officials of Sumitomo, Yaskawa, and JFE Shoji companies.
Industries Minister MB Patil, who is leading a high-level Karnataka delegation in Japan, said Sumitomo confirmed an investment of Rs 2,345 crore in a steel manufacturing unit in Koppal through Mukanda Sumi, a joint venture with the Bajaj Group. The unit will be operational by 2028 and will have an annual capacity of 3,50,000 tonnes of iron and steel.
In a press statement the minister said that Sumitomo has also expressed interest in setting up a biomass unit in Karnataka in the near future.
In a separate meeting, Patil held talks with Japan’s JFE Shoji Company on the possibilities of reviving the prestigious New Government Electrical Factory (NGEF) in Hubballi under state partnership.
He put forward the revival proposal in a meeting with the company’s top officials on Wednesday.
“JFE is at the forefront in the manufacture of power converters. Senior officials of the company have been invited to visit the Hubballi unit for preliminary discussions regarding the NGEF revival,” he said.
The meeting was attended by Hiroshi Lijima, General Manager, Machinery Division, JFE Shoji Company, Hidekasu Yoshioko, Manager, Electrical Appliances Steel Planning Division, and other officials.
The company assured the state delegation that a separate Rs 400 crore project to manufacture motor cores used in battery-powered and electric vehicles (BEVs/EVs) will be implemented soon.
During the discussion with Yaskawa, the latter confirmed its investment to the state delegation for establishing a motion control and variable frequency drives unit in Bengaluru. The minister said this will strengthen Karnataka’s position as a hub for advanced manufacturing technology.
The delegation led by Patil includes Selvakumar S, Principal Secretary, Department of Commerce and Industries, and Gunjan Krishna, Commissioner for Industrial Development and Director, Department of Industries and Commerce along with other senior officials.
