Japanese firm to set up 2 projects in AP

Hyderabad: Japan-based ITOCHU Corporation, having subsidiaries and associates in the fields of textiles, machinery, aerospace, metals and minerals etc., has evinced interest to set up two projects in Andhra Pradesh.

According to officials in the Industries Department, the company approached the State to set up a component manufacturing and engineering unit for power plants and a chemical plant in the State.

“The company has sought land in Nellore for the engineering unit and plans to establish the chemical plant in the proposed Petroleum Chemical and Petrochemical Investment Regions which is coming up at Kakinada,” a Government official said.

A four-member delegation from the corporation met the Chief Minister, Dr Y.S. Rajasekhar Reddy, to look at business opportunities in the State. The delegation was led by the Managing Executive Officer of ITOCHU, Mr Yoshio Akamatsu.