Saturday, January 21, 2012

Japan’s Toto to invest Rs380 cr in Gujarat

DNA Correspondent | Gandhinagar

Japan's Toto, a leading manufacturer of sanitary-ware products and bath fittings, has finalised plans to set up its first manufacturing plant in India at Halol, said officials on Friday.

Officials said that Toto will invest Rs380 crore (US $ 76 million) for the plant, which will have the capacity to produce 5 lakh units per annum in the first phase. Commercial production at the plant is slated to commence in the next 30 months.

A Memorandum of Understanding (MOU) was also signed between Toto and the INDEXTB (Industrial Extension Bureau) in the presence of chief minister Narendra Modi.

Officials from different Japanese companies were on a two-day visit to the state as part of a visit organised by Japan External Trade Organisation (JETRO), which had also partnered the Vibrant Gujarat Summit 2011. The Japanese delegation visited Hitachi's plant and other sites in Kadi.

Welcoming the delegation, the CM said, "I envisage huge investments from Japan in Gujarat. It's a win-win situation for both Gujarat and Japan when it comes to sharing culture and doing business."

Mr Nakamura, Executive Vice-President of JETRO, invited the CM to Japan for a special conference regarding doing business in Gujarat this year.

The state government plans to set up special Japanese townships around Dholera SIR and other zones in view of influx of Japanese investments in the near future. An MoU was signed between the state government and JETRO in November for setting up a dedicated Japanese industrial zone.


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