Bangalore, Sep 18 (IANS) German automotive major Bosch is setting up a new manufacturing facility at Bidadi, nere here, to relocate its plant from the city's southern suburb Adugodi by 2015.
"We are investing up front Rs.250 crore to build the new manufacturing facility in 97 acres of land in the Bidadi industrial area to relocate from the city and expand it for business growth," Bosch India Managing Director Steffen Berns told reporters at the site. Bidadi is about 30 km from here.
Karnataka Chief Minister Siddaramaiah laid the foundation stone for the new plant by performing the ground-breaking ceremony.
"The relocation from Adugodi in Bangalore to Bidadi reaffirms our commitment to stay invested in the state, as the new industrial area offers large space and better infrastructure support for our expansion plans in future," Berns said on the occasion.
The Rs.8,400-crore new plant of tghe company will be ready in second half of 2015 for commercial production of several components of diesel fuel injection systems and will have 850 employees.
"Though the current business situation is tough, the relocation move will help us cater to the growing business needs of the Indian market in the long term," Berns asserted.
As a leading supplier of technology and services to diverse industrial verticals, including automotive, consumer goods and building materials, the Rs.12,900-crore German group operates through six subsidiaries, with 10 manufacturing plants and seven development-cum application centres across India, employing about 26,000 people.