Toray Industries (India), a subsidiary of Toray Industries, Inc, a Japanese major producing key materials for a range of industries, plans to invest ₹1,000 crore in setting up a manufacturing unit in Sri City, Andhra Pradesh.
N Amarnatha Reddy, Minister of Industries, AP Government, unveiled a plaque marking the start of project construction in the presence of Uchiyama, Consul General of Japan in Chennai; and Akihiro Nikkaky, CEO & COO, Toray Industries, Inc.
Amarnatha Reddy said due to ease of doing business in the State and industry-friendly policy of the government, several Japanese companies preferred it, particularly Sri City.
Akihiro Nikkaky said,“We acquired a large plot to house several facilities at a single location in the integrated industrial township, Sri City. Toray has plans to make advanced raw materials for Indian industries and manufacturing clusters for the next decade.”
Toray is the 20th Japanese company setting up facility in Sri City, and this is Toray’s second production unit in India. Its products will be used by diaper makers like Unicharm, Proctor & Gamble and Kimberley Clark and the automotive, electrical and fast moving consumer goods industries.
The 85-acre site will have two plants. One, a poly propylene spun bond plant that will produce advanced technical textile Meditech used in diapers.
It is expected to start commercial production in March 2020.
The other unit will be a an Engineered Plastics Resin Compounding plant that will make raw materials for electrical components used in automobiles and in electrical and electronic connectors.
This unit will start commercial production in September 2019, according to a statement.
Both plants will initially generate 130 direct and 520 indirect jobs, and these numbers will go up during subsequent phase.