By IANS
Jaipur : Nissin Brakes India Private Ltd., the Indian joint venture of Japan’s Nissin Kogyo Company Ltd, Tuesday announced the setting up of a manufacturing facility for production and development of disc brakes for two and four wheeled vehicles.
The facility will run with support from the Rajasthan State Industrial Development and Investment Corporation (RIICO) at Neemrana, over 140 km from here.
The company was provided the land on May 31 earlier this year and will start operation by 2008. Most products from the Neemrana plant will be used by the Honda Group that is setting up a car manufacturing facility close by.
“Nissin Brakes India plans to make total investments of Rs.2.40 billion in phases. The first phase will be of around Rs.620 million,” Kuldeep Ranka, managing director, RIICO, in a statement said.
“RIICO welcomes Nissin Brakes India and extends all its support to ensure progress. Nissin’s presence in Neemrana is a testimony to the presence and growing interest of national and international companies in the state of Rajasthan,” he said.
A statement by Nissin Brakes India said: “Our decision to invest in Rajasthan is a strategic one. We are aware of the state’s growth potential and the competitive advantages it offers. We look forward to a long and mutually beneficial relationship with them.”