Toyoda Gosei India Pvt Ltd (TGIPL) aims to start production in less than a year, starting April 2009, on the 80,000 square metre land allocated at a cost of Rs 45 crore by RIICO.
Kuldeep Ranka, managing director, RIICO, said, "RIICO welcomes Toyoda Gosei India Pvt Ltd (TGIPL) and extends all its support to ensure smooth execution and implementation of plans. The company's presence in Neemrana adds on to our testimonial to the growing interest of national and international companies."
T Matsuura, president, Toyoda Gosei Co Ltd, Japan, said, "Our decision to invest in Rajasthan is a strategic one to tap all the automobile manufacturers in north India. Neemrana offers proximity to the entire northern region of the country, access to road network, electricity and manpower. We look forward to a long and mutually beneficial relationship with RIICO."
Founded in 1949, Toyoda Gosei is a customer-driven, global company that researches, develops and manufactures products of exceptional quality for a variety of fields within the automotive industry.
Last year, in a MoU signed between RIICO and JETRO (Japanese External Trade Organisation), RIICO committed to reserve an industrial park for Japanese investments in Neemrana mostly for medium auto component sector in order to enhance Japanese investments.
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RIICO has already provided land to Honda Siel Cars India Ltd (HSCIL) to set up its second manufacturing plant in May last year. The presence of automobile majors like Ashok Leyland, Eicher, Hero Honda, Honda Siel Cars, amongst others in the region has facilitated growth of the manufacturing sector in the state.