India, Tumkur: Toshiba Electric plans to set up a specialised unit near Tumkur which will produce components for power transformers. The investment is worth Rs 290 crore ($ 46 million).
The plan comes as a part of the overall investment approval from the Chief Minister Siddaramaiah, Karnataka in order to boost the industrial development.
The Minister Siddaramaiah told the media that the aim is to showcase Karnataka and attract investments for tier-II and tier-III cities. He added that the government would provide adequate power and water to new industries.
Source: Deccan Chronicle