Bengaluru/Koppal/Hubballi (Sep 09): Sumitomo Corporation, through its partnership with the Bajaj Group’s Mukand Sumi, will invest ₹2,345 crore in a steel manufacturing unit in Koppal. The unit is set to commence operations by 2028, according to Industries Minister M.B. Patil. To promote industrial growth in Karnataka, the state government has held significant discussions with leading Japanese companies, including Sumitomo, Yaskawa, and JFE Shoji.

The Koppal steel plant will have an annual production capacity of 3,50,000 tonnes of iron and steel. Additionally, Sumitomo has expressed interest in establishing a biomass unit in the state.Yaskawa’s Advanced Unit in Bengaluru: Yaskawa will invest in setting up a cutting-edge motion control and variable frequency drives unit in Bengaluru, positioning Karnataka as a hub for advanced technology manufacturing. The company also plans to invest ₹400 crore to manufacture battery electric vehicle (BEV) and electric vehicle (EV) motor cores, with implementation expected soon.

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Revival of NGEF in Hubballi with JFE Shoji: Minister M.B. Patil discussed the revival of the state-owned New Government Electrical Factory (NGEF) in Hubballi with JFE Shoji. The talks aim to rejuvenate the factory through a public-private partnership. A successful collaboration with JFE Shoji, a leader in electrical transformer manufacturing, could breathe new life into NGEF.

As part of these discussions, JFE Shoji officials Hiroshi Iijima and Hidekasu Yoshioko have been invited to visit the Hubballi unit.The delegation included senior officials such as Dr. S. Selvakumar, Principal Secretary of the Industries Department, and Gunjan Krishna, Commissioner of the Industries Department. This visit is poised to attract significant global investments to Karnataka’s industrial sector.