Tata Technologies Plans Rs 2000 Cr Investment in Engineering Facility Centers
In a significant move, Tata Technologies has unveiled its proposal to establish three common engineering facility centers (CBFCs) in Karnataka with a staggering investment of Rs 2000 crore.
On Wednesday, representatives from Tata Technologies met with the state’s industries minister, MB Patil, to formally present their ambitious plans. These CBFCs are expected to provide valuable assistance to micro, small, and medium enterprises (MSMEs), as stated by Minister Patil.
Under the proposed public-private partnership (PPP) model, Tata Technologies will hold a 70% stake in the CBFCs, while the remaining share will be owned by the state government. Notably, this venture marks the first of its kind in the state, signifying a milestone achievement. The approximate cost for each center is projected to be around Rs 630 crore.
The primary focus of the CEF Centers will revolve around Advanced Manufacturing 4.0, Electric Vehicle Testing, and Aerospace & Defence sectors. These centers are expected to greatly benefit the burgeoning MSMEs and startups operating in these industries, aligning with the government’s vision to fortify the MSME sector.
To accommodate the infrastructure requirements, each CEF Center will need approximately five acres of land. The government is actively considering the allocation of suitable plots to establish these centers promptly.
During the meeting between Minister Patil and Tata Technologies President Global HR, Pawan Bhageria, along with his colleagues, key officials such as Principal Secretary (Industries) S Selva Kumar and Industries Commissioner Gunjan Krishna were present, emphasizing the significance of this investment.
About Tata Technologies:
Tata Technologies Limited is a multinational product engineering company based in India. The company offers a wide range of services including engineering and design, product lifecycle management, manufacturing, product development, and IT service management. Their clients primarily include automotive and aerospace original equipment manufacturers, as well as industrial machinery companies. Tata Technologies Limited operates as a subsidiary of Tata Motors.
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