NIFCO leases 5.13 acres for MH plant

NIFCO India, a subsidiary of Japan's NIFCO Inc, has entered into a long-term lease agreement with Inspira Realty for a 5.13-acre industrial plot at its industrial and warehousing park in Shendra MIDC, Chhatrapati Sambhaji Nagar, as the automotive components maker expands its manufacturing footprint in India.The plot measures 2,23,561 sq. ft. and will house the company's fourth manufacturing plant in the country, adding to its existing production network as it looks to cater to growing demand from domestic automotive manufacturers.“India continues to be a strategically important market for NIFCO, driven by the sustained growth of the automotive sector and evolving customer requirements.

The establishment of our fourth manufacturing facility reflects our commitment to strengthening local production capabilities and supporting our OEM partners more effectively,” said Uday Shankar, MD, NIFCO India.Also Read: Affordable housing, rental expansion and RERA reforms set to define next growth phase in India's urban region: ReportNIFCO Inc. is a Japan-headquartered manufacturer of plastic fasteners, clips and functional components for the automotive industry, with operations across more than 30 countries.

Its Indian arm supplies components to automotive original equipment manufacturers (OEMs) in the country.“Beyond the transaction itself, we are particularly encouraged by the growing interest from Japanese manufacturers, who are among the world's most demanding industrial occupiers,” said Aayush Madhusudan Agrawal, Founder & MD, Inspira Global.The proposed facility at Inspira City is expected to strengthen NIFCO India's manufacturing capacity and support its OEM customers' expanding production requirements.Also Read: Mahindra Lifespaces buys 15-acre land in Mumbai to build Rs 5,600 cr housing projectThe transaction marks the third Japanese company to establish operations at Inspira City after NHK Springs Co.

Ltd. and Aisin Automotive India Pvt.

Ltd., reflecting the increasing presence of Japanese manufacturers at the industrial park.India's industrial and warehousing sector continues to see strong leasing demand, driven by manufacturing expansion, supply chain diversification and growth in sectors such as automotive, engineering and e-commerce.

Key markets including Mumbai, Pune, Chennai, Bengaluru and the National Capital Region remain major hubs for occupier activity.The segment has also attracted significant institutional investment, with developers and global investors expanding their portfolios amid sustained demand for Grade A industrial parks and modern warehousing facilities. ...