By IANS
Jaipur : Mitsui Prime Advanced Composites India, a wholly owned subsidiary of Japanese multinational Mitsui Chemicals Inc, has announced establishing a Rs.300 million ($7.6 million) manufacturing unit for polypropylene compounded resins at Neemrana in the state.
The facility will come up at Japanese Investment Park in Neemrana in Alwar district, some 140 km from here, with support from Rajasthan State Industrial Development and Investment Corporation (RIICO).
The “bhoomi poojan” (ground breaking ceremony) for the plant was performed on Tuesday.
The unit, with an initial capacity of 15,000 tonnes per annum, will supply polypropylene compounded resins used in manufacturing bumpers, panels, pillars, etc. for four wheelers to major car manufacturers across the country. The unit will be operational in 2009.
On the occasion, RIICO managing director Kuldeep Ranka said: “The entry of reputed Japanese companies like Mitsui in manufacturing for the first time in India will boost the emergent auto sector in Rajasthan and accelerate the state’s economic growth trajectory.”
Junichi Nakagawa, managing director, Mitsui Chemicals Petrochemicals Business, Japan, said: “India’s burgeoning auto sector provides us an excellent opportunity and we are pleased to establish our presence in Rajasthan.”