NSK Ltd. (Japan; TSE: 5251R9N7) announced it will invest ¥7 billion (USD $73 million) to build a massive greenfield manufacturing facility in Shenyang, in China's Liaoning Province.

With a foothold and a major manufacturing base in the country, NSK would like to increase its market penetration in China from 10% to as high as 30% within the next five years.

Scheduled to come online by late 2010, the product mix for NSK Shenyang Precision Co. Ltd. is not yet fully defined. However, it will likely include high-precision bearings, ball screws, and linear guides.

NSK said the new facility is being built to target high growth opportunities in the precision machine tool and precision manufacturing sector, both in China and neighboring emerging economies.

With manufacturing floorspace covering nearly 400,000 square feet, the facility is expected to initially employ as many as 600 workers.

Unlike many other new manufacturing ventures in China, NSK Shenyang is not burdened with a government-suggested local partner. NSK is the sole owner, investor and operator.