Beijing, Oct 26: One of India's largest automotive components group, Sundram Fastners Limited has started construction of its first overseas project in China and hopes to start production by early next year, a senior company official said. "Our ambitious plans in china is moving ahead as per schedule and we hope to start production of critical high tensile Fastners by early next year," vice president of SFL (Zhejiang), a Natarajan said here.

The state-of-the-art factory which can produce 6,000 metric tonnes Fastners per annum, is coming up in Haiyan county in east China's Zhejiang province, he said while pointing out that a number of machines have started arriving at the factory site.

The facility, which would employ 75 to 80 people, will have the capability to produce a complete range of special and standard Fastners. Sundaram Fastners has invested USD 12.5 million in the first foreign venture of the company after undertaking a study of China's automotive components market, which is growing at a fast pace, he said.

"Initially, the China plant would meet the domestic Chinese market requirements and would later cater to international market," Natarajan said.

Bureau Report