Model Economic Township Ltd (METL), a subsidiary of Reliance Industries Ltd, on Sunday said Japanese company Tsuzuki will set up a manufacturing facility at its Jhajjar-based (Haryana) location.
The company has entered into an agreement with the Japanese firm in this regard, METL said in a statement.
Tsuzuki will manufacture steering knuckle for the automobile industry at Reliance MET, it added.
Tsuzuki MD Eiichi Oya said the company will start manufacturing operations in the new unit in Jhajjar by 2021.
The plant would cater to both domestic and international markets, he added.
Tsuzuki is the third Japanese company after Panasonic and Denso to invest in MET Jhajjar, which is one of the 12 sites identified by the Japanese government to develop industrial townships in India.
METL CEO and whole-time Director Shrivallabh Goyal said, the investment by Tsuzuki India will improve trade relations between India and Japan.
The development of MET will not only bring economic development in the area, but also create job opportunities for the local residents, he added.
Ten companies, including Panasonic, Denso, Reliance Retail, Allcargo, Bati India, Indo Space, Tirupati and Amber have already started operations at Jhajjar and construction work of few more companies are under progress, Goyal said.
In addition, more than 170 companies have signed agreement to set up their manufacturing units, he added.