Japanese corp to set up technical textile plant in Andhra

August 13, 2017 - India

Japanese multinational corporation Toray Industries will set up a plant to manufacture technical textiles in Sri City, a special economic zone in Chittoor district of Andhra Pradesh. The plant which is a part of Toray Industries’ expansion plan for India, will be built at an investment of Rs 1,000 crore. It has been approved by state’s CM Chandrababu Naidu.

The Japanese company manufactures a range of products including fibres, textiles, performance chemicals, carbon fibre materials, life science and more. The company has a presence in over 25 countries and its overseas net sales as of March 2017 amounted to $9.5 billion.

Yukichi Deguchi, senior vice president and general manager, Toray; Katsuyuki Takao, director, Toray; Shigekazu Suenaga, MD, Toray; Ajay Singh Sirohi, head — strategic planning, Toray; and Jaasthi Krishna Kishore, CEO of AP Economic Development Board were present at the discussion, according to media reports. (KD)