Kirloskar Ferrous to invest Rs 3,000 crore in Karnataka: Minister M B Patil
Bengaluru (PTI): Kirloskar Ferrous Industries, a manufacturer of pig iron and grey iron castings, will invest Rs 3,000 crore in its Hiriyuru plant in Karnataka over the next three years, Industries Minister M B Patil said on Tuesday.
He said that several major firms, including Wipro PARI, Atlas Copco, Bel-Rise Industries, Finolex, and Fluid Controls Limited have shown interest in investing in the state.
"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," Patil was quoted as saying by his office in a release.
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 noted that nearly 99 per cent of its employees are Kannadigas.
"This will further strengthen regional economic growth and promote inclusive development," he said. Kirloskar has also been contributing 2 per cent of its profits to its CSR fund for over 20 years, with a focus on improving healthcare facilities in rural areas, he added.
Noting that Wipro PARI has already set up an electronic copper laminate manufacturing unit in Karnataka, Patil said, 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.
Sweden-based Atlas Copco, known for sustainable industrial manufacturing, acquired Bengaluru-headquartered HHV Pumps in 2021, he said, the company now plans to expand its production operations in Karnataka.
Stating that 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 Dharwad, the minister said, 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."
Finolex, known for its PVC pipes and fittings, is expected to set up a unit in Karnataka, while Fluid Controls Limited has proposed an investment of Rs 90 crore and has requested five acres of land, which will be allotted soon, the minister said.
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TCS orders probe, engages external experts in Nashik Case
Mumbai: Tata Consultancy Services on Friday said it has initiated a formal internal investigation into allegations linked to its Nashik unit and engaged independent external experts to ensure transparency in the process.
Chief Executive Officer and Managing Director K Krithivasan was quoted by The Observer Post as saying that the company has appointed Deloitte and Trilegal as independent counsel to support the probe. The internal investigation is being led by Aarthi Subramanian.
The company has constituted a supervisory committee chaired by independent director Keki Mistry, which will oversee the process. The committee will also review findings and monitor the implementation of recommendations.
Krithivasan said a preliminary review of the company’s internal systems and records had not revealed any complaints of the nature being alleged through its ethics or POSH channels.
He also clarified that an employee named in media reports, Nida Khan, was not part of the human resources function and did not hold any leadership role. He informed that she worked as a process associate.
The company has also rejected reports suggesting that operations at the Nashik facility had been suspended. It asserted that the unit continues to function without disruption with a zero-tolerance policy towards misconduct.
