AP Minister promises single desk exclusively for Japanese investors

Toray Industries (India), a subsidiary of Toray Industries Inc of Japan, commissioned its ₹1,000-crore plant in Sri City in Andhra Pradesh to produce meditech technical textile materials and auto components.

Mekapati Goutham Reddy, AP Industries Minister, unveiled the plaque marking the inauguration of the plant in the presence of Kojiro Uchiyama, Consul-General of Japan in Chennai.

Toray is the 20th Japanese company to start operations at Sri City. Five more Japanese companies are in the construction phase.

The unit, which was built on a 85-acre site at an initial investment of around ₹1,000 crore, has units for manufacture of PolyPropylene (PP) Spun Bond and Engineering Plastics Resin Compounds, an Environment Treatment Plant, power utilities, along with related infrastructure.

The PP Spun Bond plant is to produce meditech technical textile material and will start commercial production in March. These products are used in diapers and sanitary napkins, which take advantage of the material’s combination of wicking, softness, high uniformity and light weight.

The products made at the Engineered Plastics Resins plant are used as raw materials for making automobile electrical components and electrical and electronic connectors. The plants will supply their products to both Indian and cater to exports.

Both plants put together will initially generate jobs for over 400 people, and this number will go up in subsequent phases.

The Minister said because of ease of doing business in the State, several Japanese companies prefer AP, particularly Sri City.

“For expediting speedy process and clearance, soon we will introduce a special desk for Japanese investors,” he said.

Kojiro Uchiyama said that “Toray’s presence will make a significant impact on Indian market with its innovative products.”

Published On : 14-02-2020

Source : The Hindu Businessline