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Volvo Unit at Hoskote to be expanded at a cost of Rs 974 crore

  •   Tue, Jul 14 2015 10:06:30 PM

From Our Special Correspondent

Daijiworld Media Network

Bengaluru, Jul 14: The prestigious unit of the Volvo India Pvt Ltd, established in Hoskote in Bengaluru Rural district, is being expanded at an estimated cost of Rs 974 crore.

This information was conveyed to Karnataka Chief Minister Siddaramaiah by a delegation of top executives of Volvo Bus Corporation and Volvo India Pvt Ltd, who called on him, at VidhanaSoudha in Bengaluru on Tuesday.

The Volvo company’s delegation comprised of HakanAgnevall, President Volvo Bus Corporation, AkashPassey, Senior Vice-President, Kamal Bali, Managing Director,.Volvo India Pvt Ltd and V R V Sriprasad, Managing Director, Volvo Bus India.

The State Chief Secretary Kaushik Mukherjee, Ms KRatnaPrabha, Additional Chief Secretary, Commerce and Industries Department, D N NarasimhaRaju, Additional Chief Secretary to Chief Minister and Gaurav Gupta, Commissioner for Industrial Development and Director of Industries and Commerce, were present during the meeting.

Volvo India Pvt Ltd was established in Hoskote taluk of Bangalore Rural District during 1996-98 for manufacturing trucks and buses with an investment of Rs 900 Crore.

The company presently employs 2076 persons.

The expansion of theHoskote unit is being taken up with an additional investment of Rs 974 crore and will generate employment opportunities for another 2125 persons.

HakanAgnevall expressed his happiness about the good industrial climate prevailing in the State and thanked the Chief Minister for the support provided by the State Government under his leadership to Volvo India (P) Limited.

He also informed the Chief Minister that for the first time in India, Volvo India Pvt Ltd, will be exporting nearly 100 buses in a year to European countries.

Earlier, the company was exporting buses to South Africa and SAARC countries.

HakanAgnevall also spoke about the launching of Electric buses in Sweden, for which he extended an invitation to the Chief Minister to visit Sweden to see the electric buses, which the Company is planning to introduce in India also in the near future.
The Chief Minister has agreed to visit Sweden during the month of September 2015.
  

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Title: Volvo Unit at Hoskote to be expanded at a cost of Rs 974 crore



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