Karnataka secures Rs 3,000 crore Kirloskar Ferrous investment; more firms to follow

Kirloskar Ferrous Industries, a manufacturer of pig iron and grey iron castings, will invest Rs 3,000 crore in expanding its Hiriyuru plant in Karnataka over the next three years, Industries Minister M B Patil said on Tuesday.

He said several major firms, including Wipro PARI, Atlas Copco, Bel-Rise Industries, Finolex, and Fluid Controls Limited, have also expressed interest in investing in the state.

“These companies, which are ready to bring in new investments, will be extended full support from the government in terms of land, infrastructure, and other facilities,” Patil said in a statement issued by his office.

Patil, who was in Pune with a high-level delegation from the Department of Industries and Commerce, held discussions with leading industrialists as part of a roadshow to promote Karnataka as an investment destination.

Kirloskar Ferrous, which already operates a plant at Hiriyuru in Chitradurga district, plans to start sponge pipe production, increase the capacity of its steel manufacturing unit, and modernise its foundry operations.

Highlighting the company’s local contribution, Patil said nearly 99 per cent of its workforce comprises Kannadigas. “This will further strengthen regional economic growth and promote inclusive development,” he said. He added that the company has been contributing 2 per cent of its profits to CSR initiatives for over two decades, focusing mainly on improving healthcare in rural areas.

The minister also noted that Wipro PARI has begun construction of an electronic copper laminate manufacturing unit at the KIADB industrial area in Adinarayana Hosahalli near Doddaballapura. The company plans to set up a Smart Robotics Laboratory there as well.

Sweden-based Atlas Copco, which acquired Bengaluru-headquartered HHV Pumps in 2021, is planning to expand its production facilities in Karnataka, Patil said.

He further mentioned that Bel-Rise Industries, active in the aerospace and defence sectors, operates units at Narsapura in Kolar and the Beluru Industrial Area in Dharwad. The company has sought 25 acres in Mysuru to expand after acquiring H-One Private Limited. “This proposal will be reviewed,” he added.

Meanwhile, Finolex is expected to set up a new unit in the state, and Fluid Controls Limited has proposed an investment of Rs 90 crore, seeking five acres of land which, the minister said, will be allotted soon.