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Home arrow Defence arrow Mithra Group and Kyokuto Kaihatsu Kogyo Co, Japan in JV to manufacture SPVs
Mithra Group and Kyokuto Kaihatsu Kogyo Co, Japan in JV to manufacture SPVs Print E-mail
Written by Subash   
Wednesday, 03 March 2010
Vijayawada: Mithra Group, primarily dealing with passenger cars, commercial vehicles and construction machinery, has entered into a Joint Venture with Kyokuto Kaihatsu Kogyo Co.Ltd., Japan for manufacture of Special Purpose Vehicles at Veerapanenigudem, Gannavaram Mandal, Vijayawada (AP).

The proposed Joint Venture company has been named Mithra Kyokuto Special Purpose Vehicles Company Pvt.Ltd.  Kyokuto will provide its technological and development know-how for production and Mithra will provide infrastructure facilities as well as its sales network for marketing.

The Project Cost of the JV is envisaged at Rs.350 million. The plant will be spread in an area of 60,000 sq.mts and it is expected to go into production by January 2011.

Kyokuto's primary business is manufacturing and selling special purpose vehicles. The company has manufacturing know-how of various types of special purpose vehicles, such as those for construction (tipper trucks, concrete mixer trucks and concrete pump vehicles), those for logistics (tailgate lifters, fuel tank trucks and bulk powder trucks) and those for environmental activities (garbage compactor trucks and detachable container vehicles).

Kyokuto is currently exporting products to 160 countries in the world. The company has six manufacturing factories in Japan and also has one in China.

The Indian market of special purpose vehicles is expected to expand in the future. Maganti Subrahmanyam, Chairman, Mithra Group said that South India had 45 per cent share of the tipper market in the country and that Vijayawada was known as the second largest consumer of trucks in the country.

Kyokuto chairman Katsushi Tanaka said that the present venture was aimed at expanding its market. He said that the company sold about 34000 special purpose vehicles across the world last year.

Mithra Group is also in the business of manufacturing and selling industrial rubber products and hoses.

At the ceremony Mr. Takeo Norimitsu and Mr.Naoki Yamato represented the Kyokuto, Japan.  Mr.Maganti Subrahmanyam, Chairman, Mr.M.V.Srinivas and other directors represented the Mithra Group.

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