Two Japanese companies to expand operations in Sri City

Tirupati: Two of the Sri City based Japanese industries namely Kobelco Plate Processing India Private Limited and Piolax India Private Limited held plant expansion ceremonies at the respective plants here on Wednesday.

While Satoru Hoshino, Director, Kobelco Plate Processing declared the new facility inaugurated; Yukihiko Shimazu, President, Piolax Group, Japan inaugurated the newly built production facility. A host of dignitaries from customer companies and other units of Sri City were present.

Commenting on the occasion, Ravindra Sannareddy, Founder Managing Director, Sri City said, "We are very glad as both Kobelco and Piolax are growing and continuing investments here in the Sri City.

This is the second unit expansion by Kobelco Group, following the expansion of its crane unit within a year.” Sannareddy further added that these expansions would drive the economic growth and employment opportunities in this region.

Expansion of the existing industries testifies the investor-friendly ecosystem that has already been built at Sri City. This region in line with Chandrababu Naidu’s directives, will soon grow as an automobile cluster. A symbiotic ecosystem will also be developed benefiting the auto component makers," he added.

Kobelco Plate Processing India, a core member of the $2.49-billion Kobe Steel Group, Japan with more than 40,000 employees worldwide is a service provider of fabrication of mild steel plates. Its plant was set up in the Sri City in 2013.