Bengaluru: Japan’s Nidec Corporation has proposed a Rs 150 crore investment in their facility in the Hubli-Dharwad industrial area, following Industries Minister MB Patil’s recent visit to Japan. This is an additional 20-acre expansion in the area, following their previous Rs 450 crore investment.
Initially planned on a 30-acre plot, Nidec has now applied for an additional 20-acre expansion. The entire project, part of Nidec’s Motion and Energy segment, with a total built-up area of 62,000 square meters is expected to generate over 800 jobs.
The facility will consist of six factories which will manufacture alternators, motors, system solutions, and drives for key sectors such as data centers, electric vehicles (EVs), and elevators.
Published 13 September 2024, 01:26 IST