Yokohama buys land in India

ERJ staff report (DS)

Bahadurgarh, India -- Further to reports two weeks ago that Yokohama Rubber was to build a tyre plant in India, Yokohama has now announced it has bought a parcel of land about 45 km west of Delhi.

The site has a total area of 25 acres (10 ha) and is located in the Industrial Estate Bahadurgarh operated by the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC). The site is located less than 45 kilometers west of Delhi's downtown and Delhi International Airport and close to one of the largest consuming areas in India.

In early April, Indian newspapers carried a series of reports based on statements from Rajeev Arora , Managing Director of HSIIDC, claiming that Yokohama has agreed to build an automotive car tyre manufacturing unit at Bahadurgarh, with an investment of almost Rs 100 million (Euro 154 million). The reports said the plant would employ 900 people.

Yokohama said at the time that the HSIIDC statement was premature. A spokesman confirmed that the company was studying various options for new tyre plants and India was one of them, but no decision had been made.

Yokohama did not say why it had bought the land, but noted that the site will be directly connected with Delhi through a subway in 2010. Also, the site is within easy reach of high class roads, due to be opened in 2009 and Haryana State University of Technology is within 2 kilometers from the site.

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Press release from Yokohama