Automotive lighting equipment manufacturer Autolite (India) has inked a joint venture agreement with Jinway Import & Export Co Ltd of China to set up a plant in Jaipur.
27 May 2015 | 6260 Views | By Autocar Pro News Desk
Automotive lighting equipment manufacturer Autolite (India) has inked a joint venture agreement with Jinway Import & Export Co Ltd of China to set up a plant in Jaipur.
The plant will manufacture high-tech capital goods for production of latest technology products like fire plasma surface treatment machine, robotic IR ...
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Automotive lighting equipment manufacturer Autolite (India) has inked a joint venture agreement with Jinway Import & Export Co Ltd of China to set up a plant in Jaipur.
The plant will manufacture high-tech capital goods for production of latest technology products like fire plasma surface treatment machine, robotic IR and UV curing coating line, advanced assembly lines with online vision inspection system, online test and adjustment assembly machines, clean room systems, laser-based welding systems and ultrasonic welding systems. These machines will be used in sectors like automobiles, automotive components, renewable energy, aviation, biotechnology, pharmaceuticals, defence manufacturing, semiconductors and LEDs.
The first-of-a-kind project, which will create employment opportunities in Rajasthan, will attracting investment from China.
“I have an emotional chord with this project. We could have gone to China where the project cost is quite low. But since whatever I am is because of Jaipur, I preferred to bring the Chinese company to Jaipur. I hope this will augur well with the economy of the state,” said Mahipal Gupta, chairman and managing director of Autolite (India).
This joint venture named Aishi Jinway Machinery Limited is a part of the multiple trade agreements and contracts being signed between India and China during the recently concluded visit of prime minister Narendra Modi to China.
Amit Mahipal Gupta, joint managing director, said the company will cater to both the domestic as well as overseas markets. Autolite has a strong marketing network in 60 countries besides a strong presence in India. “We are among few companies which export to China. With this joint venture, we will be able to expand our reach and horizon. More than volume, it will add value to our product portfolio,” he said.