The Karnataka Cabinet today approved setting up of the country’s first Integrated Machine Tool Industry Park in Tumkur district at a cost of Rs 447 crore.<\/p>\n
The project at Hosa Narsapur, a joint venture between the central and state governments, will come up on 500 acres with a central government grant of Rs 125 crore, state Law and Parliamentary Affairs Minister T B Jayachandra said.<\/p>\n
The park will be a cluster of machine tool builders, makers of accessories, components and foundry, among others, and will help small and medium scale enterprises to expand their manufacturing capacities, he said.<\/p>\n
Once functional, it is expected to boost domestic\u00a0turnover of machine tools and savings in imports and forex, he\u00a0added.<\/p>\n
The park is expected to create more than 4,000 jobs in\u00a0manufacturing and administrative fields, Jayachandra said.<\/p>\n
The central government on February 1 had approved five projects with a grant of Rs 175 crore related to the capital goods space for companies including this project.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Karnataka Cabinet today approved setting up of the country’s first Integrated Machine Tool Industry Park in Tumkur district at a cost of Rs 447 crore. The project at Hosa Narsapur, a joint venture between the central and state governments, will come up on 500 acres with a central government grant of Rs 125 crore, […]<\/p>\n","protected":false},"author":1,"featured_media":9240,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[119,1],"tags":[899],"class_list":["post-9239","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-today-in-mfg","category-uncategorized","tag-machine-tool"],"_links":{"self":[{"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/posts\/9239","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/comments?post=9239"}],"version-history":[{"count":0,"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/posts\/9239\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/media\/9240"}],"wp:attachment":[{"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/media?parent=9239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/categories?post=9239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/tags?post=9239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}