Tohoku steel to start plant in Sri city
Tohoku Steel India Private Ltd., a wholly-owned unit of Tohoku Steel Co. Ltd. of Japan, is setting up a facility at Sri City, near here, to manufacture heat-resistant stainless steel for making automobile engine valves. The plant, which will come up on a six-acre plot in the domestic tariff area (DTA) of Sri City, is expected to involve an investment of about ?80 crore. “With the presence of major OEMs such as Isuzu, Kobelco Group and more than 17 automotive ancillary industries from Japan, South Africa, India, and Bahrain, there exists a strong ecosystem for automobile sector in Sri City,” said Ravindra Sannareddy, founder managing director, Sri City. The plant, which is expected to go on stream by the end of next year, The upcoming factory is likely to provide job opportunities for about 40 persons. Mr. Yamaguchi, president of the company, broke the ground and laid the foundation stone for plant on Friday. Tohoku Steel would be the 17th Japanese firm to set up base in Sri City. Mr. Yamaguchi said the upcoming unit at Sri City would produce engine valves for two- and four- wheelers. Tohoku Steel Co. Ltd., founded in 1937 at Murata, Japan, is engaged in the manufacture and sale of speciality steel.
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