CHENNAI: Rockworth Systems Furniture (India) Pvt. Ltd., a joint venture between Dubai-based Al Reyami Group and Thailand-based Rockworth Public Company Limited, will set up its first manufacturing facility in India at Sri City Special Economic Zone (SEZ), a multi-product SEZ.
Rockworth Systems had already initialled a memorandum of understanding with Star City SEZ in this regard.
The MoU was signed between Ravindra Sannareddy, Managing Director, Sri City SEZ, and Sheikh Rashid Mubarak Saif Al Reyami, Chairman, Rockworth Systems Furniture (India) Pvt. Ltd.
Rockworth Systems is expected to invest about Rs. 80 crore in the proposed facility and will employ over 300 people in the first phase.
This number is expected to double in the next two years. “We expect to commence production from April 2010,” the release quoted Sheikh Al Reyami as further saying.
“As of today, Sri City employs close to 1,300 people, with a projected employment of 1.75 lakh, both direct and indirect, over eight years,” the release quoted Mr. Ravindra Sannareddy as saying.
Sri City is coming up some 55 km from Chennai, the release added.
It is built in functional partnership with Andhra Pradesh Government.
Source:The Hindu