Japanese firm to invest Rs.1,000 crore in Andhra

Toray Industries Inc, a Japanese multinational corporation, will invest Rs 1,000 crore for the manufacture of technical textiles in Andhra Pradesh.

Chief Minister N. Chandrababu Naidu on Thursday approved the project, which will come up in Sri City, a special economic zone in Chittoor district.

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The plant will be the largest among Japanese units in Sri City.

The project, the foundation stone for which will be laid next year, will provide direct employment to more than 100 people and indirect employment to 300-400 people.