Financial Daily from THE HINDU group of publications
Wednesday, Sep 28, 2005
Toyota Kirloskar close to identifying site for 2nd facility
The Managing Director of Toyota Kirloskar Ltd, Mr Atsushi Toyoshima (right), and Mr K.K. Swamy, Deputy Managing Director (left), with the Karnataka Chief Minister, Mr Dharam Singh, at his residence in Bangalore on Tuesday. V. Sreenivasa Murthy
Bangalore , Sept. 27
TOYOTA Kirloskar Motor Ltd has come closer to identifying a location for its proposed second manufacturing facility.
Though the company officials did not give any indication, Karnataka Government sources indicated that the company has submitted a proposal for its expansion programme.
The proposal is slated to come up before the high-level committee meeting, to be chaired by the Chief Minister, Mr N. Dharam Singh, here on October 6.
A Toyota Kirloskar delegation led by its Managing Director, Mr Atsushi Toyoshima, met the Chief Minister and the Industries Minister, Mr P.G.R. Sindhia, on Tuesday.
Mr Sindhia, who later met mediapersons, declined to give the details of the meeting or the proposal submitted by Toyota Kirloskar.
A company spokesman described the meeting of Mr Toyoshima with Mr Singh as a courtesy call.
"We keep holding such courtesy meetings every three or four months," he said declining to give details on the company's proposed expansion programme.
Mr Toyoshima had in recent announcements expressed keenness to set up a second facility to double its market share to 10 per cent by 2010 when the total passenger car production in India is expected to reach two million.
However, the company did not indicate the exact location though reports have been appearing about North India or Tamil Nadu as the possible place.
Mr Toyoshima had also said the company needed a volume car to double its market share in five years. The parent company, Toyota Motor Corporation, is yet to finalise its proposal to make a small car.
Toyota Motor Corporation, which chose Karnataka in 1999 to launch its India operations through its joint venture partner Toyota Kirloskar, has so far invested Rs 1,500 crore to build a 60,000-per annum facility.
Toyota's multi-utility vehicle Innova and its executive segment car Corolla are manufactured here, while Camry and Land Cruiser Prado are being offered in India as completely built units.
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