Chief Minister of Andhra Pradesh Chandrababu Naidu approved of a manufacturing project proposed by Toray Industries Inc, a Japanese multinational corporation. The company will invest Rs 1,000 crore for the manufacture of technical textiles in Sri City, established in Chittor District, as a part of “Toray’s India Expansion Plan”.
Delegates who took part in the discussion include Yukichi Deguchi (Senior Vice President and the General Manager), Katsuyuki Takao (Director), Shigekazu Suenaga (MD), Ajay Singh Sirohi (Head — Strategic Planning) and Jaasthi Krishna Kishore (CEO of AP Economic Development Board).
Toray Industries is known to be the leading manufacturer in fibers and textiles, performance chemicals, carbon fiber materials, life science and environment & engineering.
They have expanded across 25 countries with their net sales overseas adding up to 9.5 billion dollars, as of March 2017.