Integrated Machine Tool Park
Integrated Machine Tool Park
Integrated Machine Tool Park (IMPT) at Tumakuru was initiated by the Karnataka State Industrial and Infrastructure Development Corporation (KSIIC) and Karnataka Industrial Areas Development Board (KIADB). This tool park is also known as Tumakuru Machine Tool Park (TMPT). This is set up to increase the capacity production of the machine tool units in the country. The integrated machine tool park can attract investments in the machine tool sector, especially foreign investments.
- To increase the capital goods share to 20% within 2025.
- Ensure the growth of the capital goods sector at the international level.
- Create an environment-friendly infrastructure for the units.
- Additional capacity in the infrastructure for the growth of the industry.
- Increase in employment opportunities.
- Foreign companies to invest in setting up of the machine tools manufacturing units. This will reduce the imports of machine tools.
- The supply chain and the production of the machine tools will be balanced.
This park is set up exclusively for manufacturers of machine tools, its accessories, subsystem, attachments, assemblies, parts and components, moulds and dies, tooling and tools. Other industrial units that are directly related to Machine Tool Industries are to be set in the IMTP. The service providers and also the other industrial units that provide support to the Machine Tool Industry to set up their units in IMTP will be allocated in the park.
The IMPT sets up individual facilities that are common to all the industrial units in the park:
- Common Engineering Facility Centre (CEFC) is set to provide training in high-end technologies.
- Test and Certification Centre (T&CC) is a facility set for testing the product.
- Incubation centre for start-up companies is set up to provide the startups with the necessary services.
- Technical centres for the training, seminars or conference.
Advantages of Setting the Industrial Unit
- An integral part of the National Investment and Manufacturing Zones (NIMZ).
- Closer to the Indian machine tool market.
- Walk to work, Bicycle tracks and Pedestrian walkway are initiated to promote the pedestrian mobility within the TMTP.
- The state of the art infrastructure with modern facilities.
- The TMPT is designed and planned as an Industrial Gated Community.
- The industrial plots are available at a reasonable price.
- The park is furnished with management, which takes care of the operational issues in the site of the machine tool park.
- Residential homes are set up for the staffs.
- All the necessary facilities are provided in walkable distance.
Advantages for Foreign Investors
- The Government of India provides an investor-friendly and transparent investment.
- Tax rates are the same for foreign investors and companies.
- The joint ventures with the Indian companies are allowed.
- The profit after the tax will be sent to the investors.
- A single window system for the approval of the investments in the park.
- Foreign brand names can be used.
Procedure for Allotments of the Industrial Units
The procedure to set up machine tools manufacturing industrial unit in the TMPT are as follows:
- An online application is to be filled and submitted to the Karnataka Udyog Mitra (KUM) through the https://kum.karnataka.gov.in.
- The submitted application will then be sent for approval.
- The State Level Single Window Clearance Committee (SLSWCC) and the State High-Level Clearance Committee (SHLCC) are the two approving competent committees.
- The SLSWCC will consider proposals only up to Rs.500 crores. For the projects above Rs.500 crores, the high-level committee will consider.
After the approval of the project by the committee, the applicant has to submit certain documents to the Karnataka Industrial Area Development Board (KIADB).
The following documents are required to be submitted for setting up the industrial units in the IMTP:
- A project clearance letter or Government order from the SLSWCC or SHLCC.
- A brief report about the project.
- A sketch of the land utilisation.
- A copy of Income Tax Returns statement.
- A copy of the partnership deed document.
- A Memorandum of Association document’s copy.
- An Article of Association document’s copy.
- A license of the Central Government, registrations or letter of the internal report for the manufacturing of the machine tools.
The initial deposit will be 30% of the amount of the land. The land will be allotted to the applicant on a lease basis. The lease cum sale will be 10 years for up to 2 acres of the land. The lease cum sale will be for 99 years for more than 2 acres of land.
Time line for the Land Allotment
- After the approval from the SLWCC or the SHLCC, the applicant has to pay the 30% initial deposit for the land within 30 days of receiving the approval. The amount is to be paid at the KIADB.
- The balance of 70% of the land cost is to be paid within 90 days from receiving the allotment letter.
- The confirmation letter will be provided after the full payment for the land.
- The possession certificate will be provided after a month of receiving the confirmation letter.
- The lease cum sale deed will be executed within a month of obtaining the possession certificate.
- The building plan or the development plan will be sanctioned within 6 months of the execution of the lease cum sale deed.
- The construction of the Industrial unit, the installation of the machines and the beginning of the production should be completed within a period of 36 to 60 months of receiving the possession certificate.
Office of the Chief Executive Officer,
Tumakuru Machine Tool Park, 5th Floor,
“East Wing” Khanija Bhawan,
Race Course Road,
Email: [email protected]