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Business EconomyPosted at: Mar 5 2024 5:33PM


AP: THK India lays foundation for new production plant

Sri City (Andhra Pradesh) Mar 5 (UNI) Eyeing a possible foray into the African markets, the THK India Pvt. Ltd - a subsidiary of Japan's THK Group and producer of linear motion guides - on Tuesday announced it has laid the foundation for an additional plant here.

With an investment of Rs. 300 crore, THK India's new facility is expected to be operational shortly and would generate over 250 direct and indirect employment opportunities, the company said in a release here.

The existing plant, operational since November 2021, already employs around 400 people and manufactures linear motion guides and high-quality ball screws.

Speaking on the occasion, THK Group Chairman and CEO Akihiro Teramachi said, "We are investing in a major expansion to meet the growing demand for our linear motion guides. As part of this development, a new workshop and a centralised delivery centre will be built inside the current Sri City factory premises.”.

The goal of this strategy is to increase output and make operations easier. The Sri City site is a route for exports to Europe, and it sets THK India up for possible future growth into African markets, he added.

Complimenting THK’s team on achieving a significant milestone, Sri City Founder Managing Director Dr. Ravindra Sannareddy said, "Their hard work and dedication have fuelled this incredible expansion in such a short time, and we are happy as this developer will boost regional economic development and employment creation.

Over 20 percent of existing manufacturing units in Sri City, an integrated business city and special economic zone, have already undergone plant expansion. Expansions of this kind testify to the business-friendly ecosystem that has already been built in Sri City,” Dr. Sannareddy added. UNI KNR XC SSP
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