NISSIN to set up unit at Neemrana

NISSIN Brakes India Pvt Ltd announced setting up a manufacturing facility for production and development of disc-brakes, front and rear, for two- and four-wheelers with support from Rajasthan State Industrial Development & Investment Corporation (RIICO) at Neemrana .

NISSIN will set up its manufacturing facility at the 1,21,410 square metre land allocated to them at RIICO Industrial Area, Majrakath, Neemrana-Phase III.

Earlier this year on May 31, NISSIN got the land registered in its name and it intends to start commercial operations by last quarter of 2008 with major production of its set up in Rajasthan for the Honda group.

The company plans to make total investments of Rs 240 crores in phases, the first phase of this will comprise around Rs 62 crores.

Kuldeep Ranka, managing director, RIICO, said, "RIICO welcomes NISSIN Brakes India and extends all its support to ensure progress. Rajasthan offers adequate infrastructure, requisite resources, land, power supply, work-force and proximity to the national capital, an environment absolutely conducive for investment and mutual growth. Nissin's presence in Neemrana is a testimony to the growing interest of national and international companies in Rajasthan."

An official spokesperson of Nissin said, "Our decision to invest in Rajasthan is a strategic one. We are aware of Rajasthan's growth potential and the competitive advantages it offers. We look forward to a long and mutually beneficial relationship with them."

Last year, in a memorandum of understanding signed between RIICO and JETRO (Japanese External Trade Organisation), RIICO committed to reserve an industrial part for Japanese investments in Neemrana mostly for small and medium auto-component sector in order to enhance Japanese investments.

RIICO has already provided around 600 acres of land to Honda Siel Cars India Ltd (HSCIL) to set up its second manufacturing plant in May this year. The presence of automobile majors like Maruti Udyog Ltd, Ashok Leyland, Eicher, Hero Honda and Honda Siel Cars in the region has facilitated growth of the manufacturing sector in Rajasthan in a major way.

Moreover, about 70 auto-component units including prominent players like Caparo Fasteners, Climate System, Federal Mogul, Goetze, Hi-Tech Gear, Ocap Chassis, Amtek India, Balkrishan Tyres, and Continental Engines amongst others are also present in Bhiwadi region.