Uno Minda earmarks Rs 300 cr for subsidiaries
The expansion is expected to be commissioned in two phase with first phase of 30,000 wheel/month in December 2023 and remaining in June 2024.
CHENNAI: Automotive component maker Uno Minda Ltd on Thursday said its subsidiaries making alloy wheels and switches will expand their production capacity at an outlay of Rs 300 crore.
According to the company, its subsidiary Minda Kosei Aluminum Wheel Private Ltd will be expanding its 4W Alloy wheel capacity by 60,000 wheels/month to 240,000 wheel/month at its plant in Bawal, Haryana.
The additional capital expenditure for the aforesaid capacity expansion will be Rs 190 crore.
The expansion is expected to be commissioned in two phase with first phase of 30,000 wheel/month in December 2023 and remaining in June 2024.
Uno Minda said its other subsidiary Mindarika Private Limited (MRPL), is setting up a new manufacturing plant at Farrukhnagar (Gurugram, Haryana) to cater to increased demand of 4W Automotive switches from Indian and International customers.
The project cost for setting up Phase 1 of the manufacturing plant at Farrukhnagar will be about Rs 110 crore which will be completed by September 2023.
The phase 1 of the plant will manufacture part products to be used for manufacturing of auto components.
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