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Japanese MNC to invest 1,000 crore in Sri City
Japanese firm Toray Industries Inc and Rockman Ind, a part of Hero MotoCorp group, will set up their manufacturing units in the State. Officials from both the companies met Chief Minister N Chandrababu Naidu here at Secretariat on Thursday.
Amaravati: Japanese firm Toray Industries Inc and Rockman Ind, a part of Hero MotoCorp group, will set up their manufacturing units in the State. Officials from both the companies met Chief Minister N Chandrababu Naidu here at Secretariat on Thursday.
Toray Industries Inc will invest Rs1,000 crore in the state as the Japanese multinational corporation is setting up a plant for manufacturing technical textiles at Sri City in Chittoor district. This project is a part of ‘Toray’s India Expansion Plan.’ The new plant is coming up across 109.35 acres and chief minister N Chandrababu Naidu has approved the manufacturing project, according to a release.
The company’s representatives met the Chief Minister at Secretariat on Thursday. Yukichi Deguchi, sr vice-president, Katsuyuki Takao, director, Shigekazu Suenaga, MD, Ajay Singh Sirohi, head (strategic planning), and Jaasthi Krishna Kishore, CEO of AP Economic Development Board, took part in the discussions with the CM.
Meanwhile, the Chief Minister has okayed an investment proposal from Rockman Industries Ltd for setting up an aluminium die-casting plant in Chittoor district. Their proposed investment is Rs 540 crore spread over a period of six years, with generation of 1,600 jobs.
