Musashi Seimitsu Industry Co launches a base construction project in the Nantong Economic and Technological Development Area. [Photo/netda.gov.cn]

Musashi Seimitsu Industry Co (Musashi), a Japanese auto parts manufacturer, launched a base construction project in the Nantong Economic and Technological Development Area (NETDA), Jiangsu province, on Feb 9 with the first-stage investment amounting to $90 million, zgnt.net reported.

As the first base of the company in East China, the Nantong venture will produce auto parts such as transmissions, gears and axles. Covering a total area of 150 mu (10 hectares), it will also set up a technology research center to facilitate the industrial transformation of NETDA.

The first-stage construction is expected to be completed by the end of 2015. The total sales volume is expected to reach 1 billion yuan ($160 million) by 2020.

Musashi, founded in 1938 in Toyohashi, Japan, is a manufacturer of key auto parts and components. Among its customers are well-known auto makers such as Honda, Suzuki and Mitsubishi. In addition to the six plants in Japan, the company has also set up more than 10 bases in various parts of the world, including Guangdong in China.