Japan's Hosoda Holdings to set up Rs 882 cr solar unit in Karnataka

Japan's Hosoda Holdings will set up a solar cell manufacturing unit in Karnataka at an estimated cost of Rs 882 crore, state Industries Minister M B Patil said on Friday.

The project will be implemented in collaboration with Tong Tar Energy Solutions (TTES), the minister said in a press release.

"Initially, TTES had planned an investment of Rs 490 crore. The agreement for the project was signed at the Global Investors Meet in February this year," he said.


During a meeting with Hosoda Holdings Chairman Nakamura on Friday, Patil said the partnership with TTES had increased the total investment and that the project is expected to generate employment for about 500 people in the state.

The minister confirmed the investment hike and welcomed the company's decision, noting that "it aligns with the state government's focus on solar power generation."

Japanese sports equipment manufacturer Inabata & Co has assured the Karnataka delegation that its unit in the state will start operations by 2027, Patil said.

The delegation also conveyed that necessary land acquisition and approvals for these projects would be provided promptly, according to him.

Additionally, Tsujikawa India, a company specialising in engraving and die-cutting technology, informed the delegation about its plans to expand manufacturing operations in Karnataka, the minister added.