Wistron Corporation, a Taiwanese contract manufacturer, has proposed to raise its investments by Rs 900 crore at its facility in Narasapura, about 70 km from Bengaluru in Karnataka.
The investment is over and above Rs 1,947 crore, the company had announced in 2019. The revised plan is expected to create 8,000 job opportunities, in addition to 10,000 employment target it had previously set.
The company has decided to make a substantial increase in investments as it is expanding its range of manufacturing beyond smartphones to Internet of Things (IoT) products and biotech devices.
It has now committed to invest 50 percent additional amount over and above what was planned earlier.
In 2018, the company had proposed to establish a unit to manufacture smartphones, IoT products and biotech devices at Narasapur in Kolar district at an investment of Rs 682 crore, providing jobs opportunities for 6,000 people.
The proposal had received the government’s nod along with a slew of incentives and concessions. The state had allocated 43 acre of land for the project.
In 2019, the manufacturer made a revised plan increasing its investments to Rs 1,947 crore from its earlier target of Rs 682 crore. Besides enhancement of the project cost, the company also promised to create employment for 10,000 people. Projects Today