NISSIN to set up facility at Neemrana-Phase III

· RIICO provides 1,21,410 sqm of land to Nissin Brakes India at Neemrana-Phase III; brings in investment Rs 240 crores in Rajasthan

NISSIN Brakes India Pvt Ltd., today announced setting up a manufacturing facility for production and development of disc brakes (front and rear) for two & four wheeled vehicles with support from Rajasthan State Industrial Development & Investment Corporation (RIICO) at Neemrana "� Phase III, Rajasthan. The 'ground breaking ceremony' (Bhoomi Poojan) of NISSIN Brakes India Pvt Ltd., was performed today.

NISSIN Brakes India Pvt Ltd., will set up its manufacturing facility at the 1,21,410 sqm land allocated to them by RIICO at RIICO Industrial Area, Majrakath Neemrana-Phase III.

Earlier this year on May 31, 2007, NISSIN Brakes India Pvt Ltd. registered the land and intends to start commercial operation in India by last quarter of 2008 with major production of its set-up in Rajasthan for automotive and motorcycle manufacturers. The company plans to make a total investment of Rs 240 crores in phases, the first phase of this will comprise around Rs 62 crores.

Mr Kuldeep Ranka, Managing Director, RIICO, said, "RIICO welcomes NISSIN Brakes India Pvt Ltd. 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 presence and growing interest of national and international companies in the state of Rajasthan."

Mr Akhiro Kubo, President & CEO Nisssin Kogyo Company Ltd, Japan 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 MoU 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 600 acres (approx.) 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 Ashok Leyland, Eicher, Hero Honda, Honda Siel Cars, amongst others 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.