NHK Springs India Ltd has started construction of their new plant in Sri City.
The Rs 300-crore investment plant will come up on 18 acres for manufacturing of coil springs and stabiliser bars for the automobile industry. This is the second plant for the company in India after Manesar in Haryana, which was established in 1996.
NHK Springs of Japan is a manufacturer of automotive suspension components for passenger cars and utility vehicles. Its client base includes Toyota, Nissan, and Ford .
Toru Kadowaki, Managing Director, India, and other top executives were present at a function in the integrated Special Economic Zone in Nellore-Chittoor districts of Andhra Pradesh, a press release said.
“The unit inside Sri City envisages an investment of Rs 300 crore with an initial employment of over 100 people which would be increased to 400,” said Toru Kadowaki,
Sri City has emerged as a promising destination for Japanese companies to establish their manufacturing units especially in the auto ancillary and components Industry.
With the entry of NHK Springs, more auto components manufacturing companies will set up their facilities here, said Ravindra Sannareddy, Managing Director, Sri City.
NHK Springs India has accessed the know-how of the joint venture, NHK Spring Co Ltd Japan for suspension components.
NHK Spring Co Ltd was Japan’s first domestic producer of industrial springs. It has presence in 11 countries with 26 companies.