THK India breaks ground in Sri City
THK India Pvt Ltd, a subsidiary of THK CO, Ltd, a Japanese major engaged in manufacture of linear motion guides and equipment for transport vehicles,...
Tirupati: THK India Pvt. Ltd., a subsidiary of THK CO., Ltd., a Japanese major engaged in manufacture of linear motion guides and equipment for transport vehicles, held ground breaking ceremony in Sri City on Wednesday, marking the start of construction of its maiden production unit in the country.
The President and CEO of THK Group Akihiro Teramachi performed foundation laying ceremony in the presence of Sri City MD Ravindra Sannareddy, Deputy Chief Inspector of Factories V Ramakrishna Reddy, Director, THK Group Takashi Teramachi, Project Head Nozomi Kamada and a host of senior managers of the Group.
Stating that among the various sites surveyed by them ‘Sri City was the best’, Akihiro Teramachi said that it has excellent infrastructure, stable power supply and water, and above all, a trustable management team. It is definitely a great step and a challenge for THK to start manufacturing in India and hope, the group would grow up together with India’s market.
Sri City Managing Director (MD) Ravindra Sannareddy said that THK Group’s entry into Sri City assumes greater significance, as it will be their very first plant in the country and assured all support from Sri City. The plant, which will be built in a plot of 50 acre in the Domestic Tariff Zone (DTZ) at an initial investment of around Rs 500 crore will be commissioned by January 2020. It can generate direct/indirect employment for about 400 people.
It may be recalled that Akihiro Teramachi and Chief Executive Officer of APEDB J Krishna Kishore have signed a memorandum of understanding to start the venture in the presence of AP Chief Minister N Chandrababu Naidu during March 2018.
Established in 1971, THK is a $3 billion Japanese major will now establish their first India’s unit in Andhra Pradesh. THK has a manufacturing presence in Japan, North America, China, Korea and Europe and has been operating with a sales office in India since 2012.
With its entry into Sri City, Andhra Pradesh, it will be embarking their first manufacturing foray in India. In the transportation vehicle-related segment, it is engaged in the development, design, manufacture and sale of steering and suspension parts of automobile and two-wheelers, including link balls and suspension ball joints and others.