Current Affairs - Business - Discussion

Toray Industries (India) Private Limited, a Japanese major producing industrial products, has started the construction process for its new facility at Sri City in Andhra Pradesh. It is the 20th Japanese company in Sri city. The facility will come up on 85-acre land at an initial investment of about Rs.1,000 crore. The company will have two plants. A polypropylene (PP) spunbond plant that will produce advanced technical textile Meditech used in diaper manufacturing and an engineered plastics resin compounding plant that will make raw materials for electrical components in automobiles and electrical and electronic connectors.