Toray Industries (India) Private Limited, the Indian subsidiary of Toray Industries Inc., Japan, performed the ground-breaking ceremony for its new production base in Sri City in Chittoor district on Wednesday.
Toray is the 20th Japanese company in Sri City, and will manufacture products to be used by diaper-makers such as Unicharm, Proctor & Gamble, and Kimberley Clark, besides automotive, electrical, and FMCG goods.
The facility, the second production unit in India, will come up on 85 acres with an initial investment of ₹1,000 crore.
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Two plants
It will have two plants – poly propylene (PP) spun bond plant to produce advanced Technical Textile Meditech used in diaper-manufacturing and engineered plastics resin compounding plant to make raw materials for electrical components of automobiles and electronic connectors.
Both the plants will initially generate 130 direct and 520 indirect jobs, which are expected to go up in the subsequent phases. Minister for Industries N. Amaranatha Reddy unveiled the plaque marking the start of the project construction in the presence of Uchiyama, Consul-General of Japan in Chennai.
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Toray Chief Executive Officer Akihiro Nikkaku; Managing Director Shigekazu Suenaga; Satyavedu MLA T. Aditya; Industries and Commerce Secretary Solomon Arokiaraj; APEDB Chief Executive Officer J. Krishna Kishore; and Sri City Managing Director Ravindra Sannareddy were present.
Highlighting the State’s painstaking efforts to attract investments, Mr. Amaranatha Reddy referred to its industry-friendly policies and its top ranking in the Ease Of Doing Business.
‘Historic day’
Mr. Nikkaku called it a “historic day” for Toray Industries for it had acquired a large plot to build world-class infrastructure to house several facilities in single location at the integrated industrial township.
“Toray has ambitious plans to make advanced raw materials for Indian industries and manufacturing clusters for the next decade,” he added.
Lauding the State’s ranking in the EODB, Mr. Ravindra Sannareddy said, “With more than 100 operational units, Sri City truly stands as a perfect example for creating a symbiotic ecosystem for manufacturing industries in multiple sectors.”