Taiwan-based Mei Ta Industrial Company has signed a memorandum of understanding with the Andhra Pradesh government to set up an auto component manufacturing base in Naidupet Industrial Park located in Nellore District.
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A statement from the chief minister’s office cited by Hindu Business Line said the company proposed to invest INR6bn (US$140m) in stages for the manufacturing unit on 230 acres.
“The line of activity include auto components, foundry, engineering industry and machining which is expected to create direct employment to 5,000 people and 15,000 indirect jobs,” the statement added.
The report said the company operates in France, China and Taiwan and in 2007 posted sales worth $270m.
“The Taiwanese and Chinese companies proposing to set [up] operations in the proposed area are Mei Ta Machining, Streit Machining, WAY SIA Machining equipment, NWS Foundry and Machining, DSP Foundry and Machining and DALF Foundry and Machining,” the statement said, according to Hindu Business Line.
