Minister for Large and Medium Industries M B Patil led delegation in talks with SAAB.
Sweden company Epiroc to invest ₹1,500 crore in Karnataka
Sweden/Bengaluru
Sweden-based mining and infrastructure equipment manufacturing giant Epiroc has announced a substantial capital investment of ₹1,500 crore in Karnataka by the year 2030, said Minister for Large and Medium Industries M B Patil. This development was revealed during the ongoing investment promotion roadshow in Sweden led by the minister and a high-level state delegation.
Epiroc India’s head Arun Kumar, in a meeting with the Karnataka delegation on Wednesday, stated that the company will invest ₹500 crore in the current financial year, with an additional ₹1,000 crore planned over the next few years. He also highlighted the significant role of Epiroc’s Bengaluru-based Research and Development (R&D) centre, which employs over 500 people and contributes 25% to the company’s global R&D output.
The Karnataka delegation also held productive discussions with top executives from Tetra Pak, a global leader in food processing and packaging. Talks focused on innovation, sustainability, and the potential for partnership with the Karnataka government in advanced technology areas.
Another key meeting took place with Christian Hedelin, Chief Strategy Officer of Sweden’s aerospace and defence major SAAB. Hedelin informed the delegation of SAAB’s intent to shift a major portion of its engineering and design operations to India. Impressed by the state’s capabilities in design and manufacturing, as well as the extensive investment opportunities presented, he assured the delegation that SAAB is seriously considering investments in Karnataka.
Minister Patil showcased Karnataka’s modern design, manufacturing capabilities, and investor-friendly ecosystem to Swedish multinationals, positioning the state as a premier destination for high-end industrial investments.
The Karnataka delegation includes Dr. S. Selvakumar (Principal Secretary, Commerce & Industries), Gunjan Krishna (Commissioner for Industrial Development), and Veerabhadrayya (Chief Engineer, KIADB), among others.