Japanese auto parts maker sets up unit at Sri City SEZ
HYDERABAD (TIP): Automotive components maker Piolax India, a subsidiary of Piolax of Japan, inaugurated its first Indian facility at the Sri City multi-product special economic zone in Andhra Pradesh. The plant is slated to commence commercial production shortly. Piolax is a global manufacturer of auto parts such as industrial fasteners, coil springs, flat springs and compact units. It has facilities in the US, the UK, China and Thailand. Sri City, located some 55 km from Chennai, already has about 80 units from 23 countries. Built on the worklive- learn-play concept and designed by Jurong Consultants of Singapore, it has well demarcated industrial zones, including automotive, engineering, logistics & warehousing, aerospace, electronics, biotech/pharma, IT and renewable energy. “We are happy that out of the 12 Japanese firms setting up units at Sri City, Piolax will be the third to commence production, with the remaining in various stages of construction,” said Ravindra Sannareddy, Managing Director of Sri City. The unit is expected to hire 200 people. Sri City is also setting up country-specific enclaves to offer specific and exclusive facilities to companies from these countries, a company statement said
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