New Delhi, Apr 1 (UNI) Japanese tyre major Yokohama Rubber Company Ltd has decided to set up an automotive car tyre manufacturing unit at Bahadurgarh with the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) allotting 25 acres of land for the project.
Disclosing this, HSIIDC Managing Director Rajeev Arora said the Japanese investment in Haryana, which was hitherto Gurgaon and Faridabad centric, was now fanning out towards other regions of the State. The investment being made by the Yokohama Tyres was the first major Japanese investment towards Rohtak-Jhajjar belt in the state.
Haryana already accounts for about 70 per cent of the total Japanese investment in the country, 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.
When implemented, the proposed 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.
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.
The basic infrastructure services in this estate such as roads, water supply, sewerage, drainage and electrification etc have been completed.
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.
Established in 1917, Yokohama is the seventh largest tyre manufacturing company in the world with representative offices mainly in the US, the UK, Denmark, Italy, Belgium, Philippines, China, Taiwan and Australia.
In addition, the company applies original strengths in rubber polymer technology in successful lines of diversified business, including hoses, sealants and adhesives, other industrial products, aircraft products and golf products.
The company has achieved a turnover of 4.2 billion dollars during the year 2006-07.
Global demand for tyres has grown steadily in recent years.
Yokohama has added and expanded tyre plants in Asian nations besides Japan to serve the growth.
The company has also increased its Asian production capacity outside Japan for hoses, sealants and conveyor belts in support of global business expansion. In the tyres segments, Yokohama 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.
Under its multi-business activities, Yokohama is a brand leader in high pressure hoses for construction equipment, in sealants for buildings and in windshield sealants for automobiles.
The company is the world's largest supplier of pneumatic fenders for protecting ship hulls. It is also a leading supplier of marine hoses for loading and unloading crude oil. The company also supplies lavatory modules for the Being 737 airliner and drinking water and wastewater tanks for the airbus A 380. Underlying the competitiveness of Yokohama's aircraft products are the company's unique strengths in fabricating lightweight, high strength items from fiber-reinforced plastic.
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