Jaipur, Oct 14 (IANS) Nippon Pipe India Private Limited, part the Japan-based Nippon group, will set up a Rs.190 crore steel tube components project for the automobile industry in the Japanese zone at Majrakath, Neemrana, in Alwar district of Rajasthan.
The Japanese zone has been developed by Rajasthan State Industrial Development and Investment Corporation (RIICO), a state government undertaking. RIICO has allotted 25 acres for the project.
‘In the first phase, Rs.55 crore is proposed to be invested by the company by 2011 and subsequently the cost of project will go up to around Rs.190 crore by 2015’, said Rajendra Bhanawat, RIICO managing director.
The annual installed capacity will touch 10,000 tonnes in 2012 which will go up to 25,000 tonnes by 2015. At its full capacity the project will employ 280 persons.
In the Neemrana’s Japanese zone, 22 companies, including Nippon, have been allotted 303 acres and an investment of around Rs.2,150 crore have been tied up, said Bhanawat.
Nippon Pipe is a subsidiary of Siam Nippon Steel Pipe Company, Thailand, which itself is a subsidiary of Nippon Steel of Japan.