Japan-based Daiki Aluminium Industry Co. Ltd., through its Indian subsidiary, is to set up an aluminium alloy plant at Sri City in Andhra Pradesh. Daiki Aluminium Industry India Pvt. Ltd. would make an initial investment of Rs.250 crore. To be built on a 20-acre plot in the domestic tariff zone, the plant is expected to go on stream by February 2020. The plant will produce aluminium alloy ingots. It will have an annual capacity of 84,000 tonnes. The products will be exported to automobile companies in ASEAN and Japan. The plant is expected to generate direct employment for about 600 people with 80% of them being women. Daiki plans to capture the demand requirements of aluminium alloy in the country and expand the market in stages.
