Toyota Motor project will revolutionise automobile sector: Maha CM Shinde

Toyota Kirloskar Motor (TKM) on Wednesday signed an agreement with the Maharashtra government to manufacture electric and hybrid cars, which Chief Minister Eknath Shinde said would revolutionise the automobile sector.

The MoU (Memorandum of Understanding) was signed at Sahyadri Guest House in Mumbai.

The company has inked the MoU to examine the setting up of a greenfield manufacturing facility at Chhatrapati Sambhaji Nagar, Toyota Kirloskar Motor (TKM) said in a statement.

"Under the project, 4 lakh electric and hybrid cars are expected to be manufactured every year with an investment of Rs 20,000 crore, generating 8,000 direct jobs and indirect employment for 8,000. This project will revolutionise the automobile sector," Shinde said.

Deputy Chief Minister Devendra Fadnavis stated: "Transforming Maharashtra, Developing Marathwada! Reaffirming its commitment to India; Toyota Kirloskar Motors is set to launch a Green Field Manufacturing Facility in Maharashtra!"

He said 850 acres of land was allotted for the manufacturing facility at AURIC (Aurangabad Industrial City), Chhatrapati Sambhajinagar.

State Industries minister Uday Samant said it was Fadnavis who convinced the Centre and Toyota Kirloskar and bring the project proposal to Maharashtra.

The state government, in the last two days, cleared big-ticket investments of Rs 1 lakh crore which will generate 25,000 employment opportunities, he said.

In the next 15-20 days, another big ticket infrastructure project ill come to Maharashtra, Samant said, adding that a plan for setting up a bulk drugs park has been prepared and a final approval will be given in the next 15-20 days.

Taking a dig at the Maha Vikas Aghadi, Samant remarked that three years ago, the lack of a cabinet sub-committee for 15-18 months had led to diminished investor confidence regarding the incentives they could expect from the state government for setting up projects.

He also pointed out that Maharashtra had fallen to third place in attracting investments when MVA was in power.