Taiwanese firm plans auto component unit in Nellore

Hyderabad: Taiwan-based Mei Ta Industrial Company has signed a memorandum of understanding with the Andhra Pradesh Government for setting up an auto component manufacturing base in Naidupet Industrial Park located in Nellore District.

A release from the Chief Minister’s Office said the company proposed to invest Rs 600 crore in a phased manner for the manufacturing unit which would come up 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 release added.

Out of the total land, 210 acres is SEZ land and the rest of the 20 acres in Domestic Tariff Area (DTA).

The company presently has business presence in France, China and Taiwan and in 2007 registered sales worth $270 million.

“The Taiwanese and Chinese Companies proposing to set 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 release said.