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Mithra, Kyokuto form JV for special purpose vehicles
26 February 2010: The Mithra Group and Japan's special purpose vehicle manufacturer Kyokuto Kaihatsu Kogyo have formed a JV producing special purpose vehicles and contributing towards development of India with a project cost of Rs 35 crore.
The plant is likely to come up at Veerapanenigudem in Gannavaram Mandal in Krishna district in Andhra Pradesh and was expected to go into production by January 2011.
Kyokuto Kaihatsu Kogyo is starting its second plant in India after having one in China and added it has exporting special purpose vehicles to 150 countries from Japan. They have six manufacturing factories in Japan and the company sold 34,000 special purpose vehicles across the world in 2009.
Source: WebIndia123