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Daiki Aluminium to start recycling unit in Sri City
Daiki Aluminium Industry India Private Limited, a 100 per cent subsidiary of Daiki Aluminium Industry Co Ltd., Japan, held ground-breaking ceremony in Sri City on Wednesday, marking the start of construction of its aluminium alloy plant.
Tirupati: Daiki Aluminium Industry India Private Limited, a 100 per cent subsidiary of Daiki Aluminium Industry Co Ltd., Japan, held ground-breaking ceremony in Sri City on Wednesday, marking the start of construction of its aluminium alloy plant. Takaaki Yamamoto, president of Daiki Aluminium Industry, performed foundation laying ceremony in the presence of Zhao Rong, chairman, Delta Group of Industries, China, Ravindra Sannareddy, managing director, Sri City, and a host of senior managers of Daiki Group.
Addressing the gathering, Takaaki Yamamoto traced the history of Daiki Aluminium group and its major achievements. Highlighting the 'green principles' in production, he said that they aim to use the latest technologies in pollution control measure adhering to the strict regulation of their parent plants in Japan. He thanked the state government and Sri City management for the support being rendered.
Ravindra Sannareddy said that as aluminium recycling is gaining importance as an economically valuable secondary raw material, they are delighted to have Daiki in Sri City, as it would effectively meet the increasing demand for secondary aluminium, and thereby help in saving mineral resources in the country. The plant, which will be built on a plot of 20 acre in the Domestic Tariff Zone (DTZ) at an initial investment of around Rs 250 crore, is expected to be commissioned by February 2020. The plant will produce aluminium alloy ingots at an annual capacity of 84,000 tonne.