Chennai-based Sri City Private Limited has signed a memorandum of understanding (MoU) with Rockworth Systems Furniture (India) Private Limited for setting up a Rs 80-crore manufacturing facility in the special economic zone at Tada, Andhra Pradesh.
Rockworth Systems is a joint venture between Dubai-based Al Reyami Group and Thailand-based Rockworth Public Company Limited.
Sheikh Rashid Mubarak Saif Al Reyami, chairman, Rockworth Systems Furniture (India), said the company would invest around Rs 80 crore and employ over 300 people in the first phase, which is expected to double in the next two years.
The facility is expected to commence production from April 2010, according to a company press release.
Rockworth Systems is the 18 company to sign an MoU with Sri City since its inauguration in August 2008.