Triumph Motorcycles has urged Karnataka Industrial Areas Development Board (KIADB) for the refund of the investment that company made for the 30-acre plot at Narasapura industrial area in Kolar district (about 50 km from Bengaluru) for the bike assembly plant due to government’s uncooperative approach.
UK-based premium bike maker had zeroed in on the southern State of Karnataka for its local assembly plant back in 2012 which was supposed to start within a year. The initial plan was to set up an assembly unit with an investment of Rs 850 crore in two phases. The company had even paid an advance against the land acquisition for the project to the Karnataka Industrial Areas Development Board (KIADB) which was cleared in 2012 it self, but failed to move further because of land-related quarrels.
Triumph proposed manufacturing capacity of 2.5 lakh premium motorcycles per annum, which would create employment opportunities for thousands.
The UK based premium bike maker is now seeking for a refund of the investment made for the assembly plant at Narasapura. They are now planning to make the Manesar plant stronger.
As per Bangalore Mirror reports, apart from Triumph Motorcycles there are four other big investors who are looking to pull back their investments from Karnataka and this is happening when neighbouring states like Telangana and Andra Pradesh are getting aggressive in bringing more investors in the state. In-fact the E-commerce giant Amazon has moved its fulfilment centre from Bangalore to Hyderabad.
Triumph’s last ray of hope is IAS Officer Pankaj Kumar Pandey, Karnataka Industrial Areas Development Board (KIADB) new CEO, he told Bangalore Mirror that Triumph had placed a request for the refund.
“We do not want Triumph to move out and we are keen on having them here. We will hold talks with the company again and sort out the issues.”
