Toyota Motors to set up rare earth oxide plant in Ganjam

Toyotsu Rare Earths Private Limited, a subsidiary of Japanese auto major Toyata Motors, will set up a rare earth oxide plant at Chatrapur in Ganjam district. The project will be a joint venture with Indian Rare Earths (IRE) Limited and commercial production will start from May next year. This will be 100 per cent EOU with a capacity of 10,000 tonnes a year. The joint venture company will invest Rs 150 crore while the State Government will provide infrastructure including land. IRE will supply raw material for the project. The project will open up employment opportunities for the local people. TREO Director Tsutomu Aoki who called on the Chief Minister here today discussed the project. (More on this story from Orissa Sambad)

Source: New Indian Express