Toyota shelves plan for third Greenfield plant in Hosur

Chennai:

Toyota has shelved plans to build a third greenfield plant in Hosur
despite the state government offering 150  acres SIPCOT land.

Executive vice-president and director of Toyota T S Jaishankar told
reporters that Toyota had plans to open up third plant in Hosur a
couple of years ago but now it is being shelved.

This comes after Industries Commissioner Swaran Singh welcomed Toyota
to set up a plant in hosur. “The land is readily available in Hosur,”
he announced during his special address while highlighting the state’s
economic growth at a one-day conclave ‘Global Reimaging: Manufacturing
excellence for Growth and Employment’.

It is learnt that Toyota was planning to expand its operations in
India and had approached State Industry department to set up a Rs
3,000 crore worth plant in 150 acres of land in Hosur.

“This was couple of years ago before the recession hit automobile
sector. We had plans then. Now we don’t need the land,” Jaishankar
said, adding that there is now enough capacity in the existing plant
in Bidadi.

Meanwhile, Tamil Nadu is wooing Germany to be a partnering nation in
Global Investors Meet which will be held at World Trade centre in
Chennai on May 23 and 24. “The state has zeroed in on six countries.
Germany is one among them,” executive vice-chairman of Tamil nadu
Industrial guidance and export Promotion Bureau, said during the event
which was attended by a German delegation lead by German MP Mark
Hauptmann.

Hauptmann highlighted the importance Germany gives to India while
comparing with China. “It is much better to do business in India than
in China,” Hauptmann said.

He also said German Chancellor Angela Merkel is planning to visit
India next year. He also highlighted how German is phasing out its
nuclear reactors. “When Fukushima incident can happen to a advanced
nation like Japan, it can happen to anyone. We don’t like to take any
chances. By 2022, all nuclear plants in Germany will be shut down,” he
said