Tata Motors resolved to construct its manufacturing unit at Dharwad and the state government took steps to allot 300 acres of land adjacent to the Telcon on the Pune-Bangalore National Highway,10 kms off Dharwad, reports Business Standard.
The setting up of Tata Motors will help provide direct employment to 1000 people while another 2000 would be indirectly employed. In addition, it cost the industrial activity in the region with several ancillary industries coming up.
The Rs 21 billion project is expected to manufacture 30,000 buses every year. Tatas showed interest and the process of allotting the land will be completed soon
While the ITôBT sectors provided employment to people from upper strata, the manufacturing industries catered to the employment needs of low and middle-income people.
Shares of the company declined Rs 4.35 , or 0.56% to settle at Rs 771.10. The total volume of shares traded was 133,885 at the BSE.(Friday ).