Neemrana Steel’s production unit goes on stream in Sri City

Tirupati: Neemrana Steel Service Centre India (NSSI) has launched its state-of-the-art heat-resistant steel press parts and coils manufacturing facility in Sri City. The facility, commissioned by Tokyo-based Nippon Steel Trading Corporation, was inaugurated on Wednesday. Company MD Hiroshi Ito, Consulate General of Japan in Chennai Masayuki Taga, President, NSTC Shinichi Nakamura, Daikin Vice Managing Director, Shogo Ando, Director General of Japan External Trade Organisation (JETRO) Kaoru Shiraishi and Sri City MD Dr Ravindra Sannareddy were present at the inaugural event of the new unit.

Speaking on the occasion, Masayuki Taga expressed satisfaction with the presence of numerous Japanese companies in Sri City, highlighting it as a secure location for expats, particularly Japanese nationals. He thanked Dr Ravindra Sannareddy and Chief Minister YS Jagan Mohan Reddy for their cooperation. He said that NSSI would effectively meet the demands of the Indian market by strengthening the supply chain.

Congratulating the entire team on the commissioning of plant Sri City MD said that the presence of Neemrana Steel will certainly enhance the symbiotic ecosystem in Sri City and observed that with the presence of several major AC brands and their supply chain companies, by 2026 more than 50 percent of AC machines produced in the country are estimated to be from Sri City.

Stating that Sri City is an ideal place for doing business Shinichi Nakamura said that their plant will supply steel pressed and stamped components to clients in south India and will soon start a skill development center to train local youth.

The Neemrana Steel Unit was built on five acres in the Domestic Tariff Zone (DTZ) with an initial investment of around Rs.100 crores in a short span of nine months. It has a production capacity of 84,000 metric tonnes per annum.