Toray opens resin compound plant in India to meet rising demand
SRI CITY, India, NNA - Major Japanese chemical fiber maker Toray Industries Inc. has started producing resin compounds in India in a fresh bid to turn the South Asian country into a new production hub, following a similar successful move in China.
Its Indian arm, Toray Industries (India) Private Ltd., started operating an engineering plastics plant in Sri City, in the southern state of Andhra Pradesh, in September, to meet growing automotive and electronics demand.
It is the first Japanese resin compound plant in India, with Toray making heat and chemical resistant polyamide and polybutylene terephthalate resins. Toray said in a statement it hopes to soon reach full operating annual capacity of 5,000 tons.
The Tokyo-based firm will next March open another plant in Sri City to manufacture polypropylene spunbond for disposable diapers. Toray has invested a total of 15 billion yen (180 million) to set up the production base in the city, near Chennai.
“We will try to expand our enterprises in India” by emulating Toray's successful operations in China, Shigekazu Suenaga, CEO of Toray's Indian unit, told NNA in late October.
Toray noted that China accounted for about 18 percent of Toray's total sales of 2.39 trillion yen in the business year through March 2019. (NNA/Kyodo)