Categories: Business

Suzuki will set up a plant in Reliance's Model Economic Township

RIL
Image Source: GOOGLE

new Delhi. Model Economic Township Limited, a subsidiary company of Reliance Industries Limited, on Sunday said that the Japanese company Suzuki is about to set up a manufacturing plant at its premises in Jhajjar, Haryana. Model Economic Township Limited (METL) said in a statement that an agreement has been entered into with the Japanese company in this regard. He said that Suzuki will produce steering knuckles for the automobile industry at the said plant. Suzuki managing director (MD) Eiichi Oya said the company would start production at the new plant in Jhajjar by 2021. He said that this plant will cater to the demand of both domestic and international markets.

Suzuki will be Japan's third company to invest in MET Jhajjar. Earlier two Japanese companies Panasonic and Denso have invested in it. METL's Chief Executive Officer (CEO) and full-time director Srivallabh Goyal said Suzuki India's investment will improve trade relations between India and Japan. He said that with the development of MET, not only will there be economic development in the area, but employment opportunities will also be created for the local residents. Goyal said that ten companies including Panasonic, Denso, Reliance Retail, Allcargo, Bata India, Indo Space, Tirupati and Amber have already started operations in Jhajjar. Construction of some more companies is in progress. Apart from these, more than 170 companies have signed agreements to set up their manufacturing units.

This post was published on July 13, 2020 12:34 am

Content Team

Recent Posts

Microsoft in talk to invest $ 100 million in sharechat

Photo: MICROSOFT Microsoft in talk to invest $ 100 million in sharechat new Delhi. Microsoft can invest about $ 100…

uco bank cuts MCLR, IOB cuts base rate

Photo: PTI Uco Bank new Delhi. Today, two public sector banks have lowered their lending rates. UCO Bank has cut…

DoT set to allow contact less verification for mobile customers

Photo: GOOGLE DoT set to allow contact less verification for mobile customers new Delhi. In the midst of the Corona…