Mitsui Chem setting up facility in India

New Delhi: Mitsui Chemicals Group, a $15-billion Japanese multinational, has announced setting up of a manufacturing facility to make resins for auto parts like bumpers, dashboards and pillars.

At an initial investment of Rs 30 crore, the new plant would be located at the Japanese Investment Park in Neemrana, Rajasthan, to cater to primarily Japanese automobile companies such as Honda and Maruti Suzuki in the domestic market.

Mitsui Prime Advanced Composites India, that will set up its manufacturing base, spread across 15 acres with an initial capacity of 15,000 tonnes per annum, would be operational from the first quarter of 2009.

Last year, Rajasthan State Industrial Development and Investment Cooperation (RIICO) had signed a memorandum of understanding with Japanese External Trade Organisation to enhance Japanese investments in the State. In August this year, Nissin Brakes India, another Japanese auto component company, also announced a new manufacturing unit in the same park.