NHK Springs starts work on new plant at Sri City
Sullurpet (Nellore dist): Japan's NHK Springs India Limited, who is into manufacturing of automobile...
Sullurpet (Nellore dist): Japan's NHK Springs India Limited, who is into manufacturing of automobile components, has commenced construction of its new plant in Sri City special economic zone near here. NHK Springs has taken 18 acres of land in Sri City to set up their manufacturing of coil springs and stabilizer bars for the automobile Industry. This is the second plant in India after Manesar in Haryana which was established in 1996.
"NHK Springs has created a niche in the automobile industry as a manufacturer of automotive suspension components for passenger cars and utility vehicles by keeping its pace with changing market situations.
Total investment planned for the unit is `300 crore. The initial investment will be `85 crore. The plant will provide employment to 400 people when all the phases are completed," said Toru Kadowaki, Managing Director, NHK Springs India Limited. According to him, the company supplies components to Toyota, Nissan and Ford.
"Sri City is a great location with favourable government support, availability of labour and conducive business environment. We are confident that our manufacturing facility in Sri City will enable us to increase our production pace to meet the demand", he added. "Sri City has emerged as the most promising destination for Japanese companies to establish their manufacturing units especially in the auto ancillary.", said Ravindra Sannareddy, MD, Sri City.