Chandigarh, Apr 1 (UNI) Japanese tyre major Yokohama Rubber Company Ltd has decided to set up an automotive car tyre manufacturing unit at Bahadurgarh.
Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) has alloted 25 acres of land for the project in the industrial estate at Bahadurgarh.
Stating this here today, HSIIDC MD Rajeev Arora informed that the Japanese investment in Haryana which was hitherto Gurgaon and Faridabad centric, is now fanning out towards other regions of the state.
Yokohama Tyres, established in 1917, is the first major Japanese investment towards Rohtak-Jhajjar belt. Haryana already accounts for about 70 per cent of the total Japanese investment in India, he added.
The cost of this 100 per cent FDI project is estimated at Rs 965 crore which is proposed to be financed entirely through the capital and internal accruals of the parent company.
The company manufactures tyres for passenger cars and light trucks, buses and for construction and mining equipment, industrial vehicles, aircraft and other applications, aluminum alloy wheels and other peripheral products.
"When implemented, the propoposed tyre project at Bahadurgarh is expected to provide employment to about 900 persons directly and many more indirectly besides promoting ancillaries in the adjoining area," Mr Arora said.
HSIIDC has developed the industrial estate at Bahadurgarh on NH-10 on an area of 755 acres. The total cost of infrastructure development in this estate has been estimated at Rs 60 crore.
HSIIDC has carved out 247 plots of various sizes in this estate, which have been allotted to the entrepreneurs under multi product category.
A dedicated footwear park has also been developed by HSIIDC abutting this industrial estate.
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