Three Japanese companies, Ajinomoto, Hitachi Automotive Systems and Takasago, have decided to set up their shops at the OneHub Chennai, located 50 km south of the city.
OneHub Chennai was set up by Ascendas and a consortium comprising top Japanese corporate finance providers, Mizuho Corporate Bank and JGC Corporation.
Among the companies, Ajinomoto, will set up a packaging facility and office here. It plans to develop new products from here in the future. Hitachi Automotive Systems plans to build a production facility for automotive components to complement its network of global manufacturing locations.
The third company, Takasago, plans to set up a new manufacturing and research and development (R&D) facility, which will become the headquarters for its R&D, manufacturing and sales operations in India and South Asia, stated Ascendas in a release.
However, Ascendas declined to share proposed cumulative investment of these three companies.
Spanning 1,450 acres, OneHub Chennai will integrate industrial, business, commercial and residential facilities with lifestyle amenities and infrastructure to facilitate the growth of Japanese and international businesses in India.
In January 2012, business space provider, Ascendas, and its partners signed a memorandum of understanding (MoU) with the Tamil Nadu government to set up the project in the state. This is proposed to attract an investment of around $700 million (around Rs 3,517 crore).
Automobile and ancillary, home appliances, electronics, foods, logistics and infrastructure are some of the key industries which are expected to come up in the township.
