Mumbai, Aug 20: Tata AutoComp Systems Ltd (Taco) has signed a joint venture agreement with the Japanese company Yazaki Corporation to design and manufacture wiring harness for passenger cars and commercial vehicles.

The joint venture company, Tata Yazaki Autocomp Pvt Ltd proposes to set up a manufacturing facility near Pune at a cost of Rs 38 crore with a initial capacity of 1.50 lakh vehicles. The plant is expected to go on stream by September 1998.

The 50-year old Yazaki group has 132 manufacturing and sales operations in 28 countries with an annual turnover of $6.5 billion. Yazaki Corporation manufactures and markets a wide range of products like wire harnesses, instruments and components for automobiles, electric power and transmission cables, fibre optic cables, solar energy systems, gas meters and air-conditioning systems.

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