Japanese sanitaryware and bath fittings manufacturer Toto will invest $76 million (Rs 380 crore) in setting up a manufacturing plant at Halol in the Panchmahals district of Gujarat.
The State Government on Friday signed a memorandum of understanding with Toto in this regard, in the presence of the Chief Minister, Mr Narendra Modi, according to an official release here.
This will be Toto’s first plant in India, and have an annual capacity of making five lakh units in the first phase of the three phases planned. It will generate employment for about 500 people. Toto intends to complete the proposed investment by 2013 and commence commercial production by July 2014.
The Japanese delegation, led by the Japan External Trade Organization (JETRO), visited Hitachi’s plant and other sites in industrial zones in Kadi in neighboring district of Mehsana. Considering the influx of Japanese investments in the coming years, the State Government plans to set up special Japanese townships around the Dholera Special Investment Region and other industrial zones. An MoU between the Gujarat government and JETRO was signed in November 2011 to set-up a Japanese Industrial Zone.
Toto is the world’s largest plumbing products manufacturer that offers a range of commercial and decorative plumbing fixtures and fittings, faucets, accessories, shower and flush valves, as well as lavatories, toilets, air baths and urinals. The market for the range Toto caters to is estimated at $500 million in India at present.