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Daiki Aluminium to invest Rs 250 crore, will create 600 jobs

The plant will be built on a 20-acre plot in the Domestic Tariff Zone (DTZ) and is expected to be commissioned by February 2020

TE Narasimhan  |  Chennai 

aluminium

Daiki Aluminium, a 100 per cent subsidiary of Industry Co. Ltd., Japan, will invest Rs 250 crore in Sri City, a smart integrated business city near Chennai. The plant will be built on a 20-acre plot in the (DTZ) and is expected to be commissioned by February 2020.

The plant will produce ingots at an annual capacity of 84,000 tonnes. The products will be exported to and Japan for the automobile sector. Daiki plans to capture the demand requirements of in the country and expand the market sequentially. It will generate direct employment for about 600 people, and 80% of them will be women.

Takaaki Yamamoto, President of Industry said they aim to use the latest technologies in pollution control and will adhere to the strict regulations of their parent plants in Japan.

Ravindra Sannareddy, Founder Managing Director, Sri City said "We are very pleased to welcome Daiki group, which is one of the world’s largest secondary aluminium production company. As Aluminium recycling is gaining importance as an economically valuable secondary raw material, we are delighted to have Daiki in Sri City, as it would effectively meet the increasing demand for secondary aluminium, and thereby help in saving mineral resources in the country.”

First Published: Thu, March 21 2019. 08:25 IST
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