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New Delhi: Tsuzuki, a Japanese company, has entered into an agreement with Model Economic Township Limited (METL), a subsidiary of Reliance Industries Limited, to set up a manufacturing unit in Reliance MET, Jhajjar.

The Japanese multinational company will manufacture steering knuckle for the automobile industry.

MET has been recognised by the Government of Japan as one of the 12 sites for the development of Japanese Industrial Township. Tsuzuki India is the third Japanese company after Panasonic & Denso to invest in MET.

Eiichi Oya, Managing Director of Tsuzuki, informed that the company will start manufacturing in the new unit by 2021 in Jhajjar. He also said that the parts will be manufactured in this unit for both domestic and export market.

Shrivallabh Goyal, CEO and Whole Time Director of METL said the investment by Tsuzuki India will improve trade relations between India and Japan.

The development of MET will not only bring economic development in the area but also create job opportunities for the residents.

At present, ten companies, including Panasonic, Denso, Reliance Retail, Allcargo, Bati India, Indo Space, Tirupati and Amber have already started operations, and construction work of few more companies are under progress.

MET has international companies from Japan, Korea, France etc already on board who have invested for their units here. The government is also working for the economic development of the area, which includes important works like transport facility, availability of water and expansion of roads.

In addition to this, more than 170 companies have signed an agreement to set up their manufacturing units. Currently, more than 5000 people are employed in the companies in Model Economic Township.

The entry of more companies in the area is expected to create job opportunities for 5000 youth every year. It will also create opportunities for self-employment, which will result in the economic development of the area.