Tata Technologies offers to invest Rs 2000 cr in common engg facility centres

economictimes.indiatimes.com:

Tata Technologies has offered to set up three common engineering facility centres (CBFCs) in Karnataka at an investment of Rs 2000 crore. The company representatives met industries minister MB Patil on Wednesday and submitted a formal proposal about their plans.

The CBFCs will help MSME units, the minister said. The proposal is to set up the centres through a public-private partnership (PPP) model where Tata Technologies will have 70% stake with the rest held by the state government.

This is the first such initiative in the State. Each centre is estimated to cost about Rs 630 crore.

The CEF centres will cater to Advanced Manufacturing 4.0, Electric Vehicle Testing and Aerospace & Defence and vastly benefit the upcoming MSMEs and startups in these sectors, Patil said, and said this was aligned with the government's aim to strengthen the MSME sector. Each CEF centre would require about five acres of land and the government would soon take a call on allocating the plots.