Nippon Pipe India Pvt Ltd will set up a steel tube components project for automobiles 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 Ltd (Riico), a state government undertaking. Nippon Pipe is a subsidiary of Siam Nippon Steel Pipe Company India Ltd, Thailand, itself a subsidiary of Nippon Steel of Japan.
The project has been allotted 25 acres of land by Riico. A cheque of Rs 3.49 crore was presented to the managing director of RIICO, Rajendra Bhanawat, by the president of Siam Nippon, Teruhisa Takamoto, as 25 per cent of the cost of land.