Toyoda to invest Rs 450-mn in Rajasthan

New Delhi: Japanese auto parts and diversified manufacturing company Toyoda Gosei Co Ltd announced an investment of Rs 45 crore to set up a safety system subsidiary at Neemrana (Rajasthan) to produce products such as steering wheels and airbags for car makers in the country.

The company plans to start production April 2009 onwards on the 80,000-sq m land allocated to them by the Rajasthan State Industrial Development and Investment Corporation Ltd (RIICO).

“Our decision to invest in Rajasthan is a strategic one to tap all the automobile manufacturers in north India. Neemrana in Rajasthan offers proximity to the entire northern region of India with access to road network, electricity and manpower,” said Mr T. Matsuura, President, Toyoda Gosei Co Ltd, Japan, in a statement.

RIICO has already provided land to Honda Siel Cars India Ltd to set up its second manufacturing plant in May last year. Moreover, the presence of automobile majors such as Ashok Leyland, Eicher, Hero Honda, Honda Siel Cars, amongst others in the region has led to about 70 auto component units, to name a few Caparo Fasteners, Climate System, Federal Mogul-Goetze, Hi-Tech Gear, Amtek India , Balkrishan Tyres, and Continental Engines, establish their presence, said Mr Kuldeep Ranka, Managing Director, RIICO.