Mitsubishi builds new plant in TN
Mitsubishi Heavy Industries India invests Rs 50 crore in Tamil Nadu gear cutting plant.
By PTI |
CHENNAI: Mitsubishi Heavy Industries India on Thursday said it has invested Rs 50 crore to set up a new plant in Tamil Nadu's Vellore district to double production capacity in gear cutting tools.
The new plant had come up at a cost of Rs 50 crore, the company's Managing Director Hidetawa Horioko told reporters here.
With the rapid growth in automotive sector in India, there was a huge demand for gear cutting tools, he said.
The production of the automotive industry in the country, which stood at one million units in 2003, had gone up to two million units in 2006 and was expected to touch four million units by 2010, he said.
This had resulted in rise in demand for high quality gear cutting tools, he said.
The new plant had come up at a cost of Rs 50 crore, the company's Managing Director Hidetawa Horioko told reporters here.
With the rapid growth in automotive sector in India, there was a huge demand for gear cutting tools, he said.
The production of the automotive industry in the country, which stood at one million units in 2003, had gone up to two million units in 2006 and was expected to touch four million units by 2010, he said.
This had resulted in rise in demand for high quality gear cutting tools, he said.
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