BackAnand Automotive Systems to set up 12 units; invest Rs200 cr
Anand Automotive Systems to set up 12 units; invest Rs200 cr
Premium
PTI
New Delhi: Auto component maker Anand Automotive Systems plans to invest Rs200 crore in setting up 12 new facilities across the country and expand capacities of two of its existing plants over the next three years.
“With the growth of automobile industry, the component sector is also growing very fast. We are planning to set up 12 new facilities across the country to manufacture various components in the next three years," Anand Automotive Systems Chairman Deep C Anand told PTI.
The company would also expand the capacities of its Hubli (Karnataka) and Satara (Maharashtra) facilities during this period, he added.
“We will invest about Rs200 crore in these three years for setting up the greenfield units and in carrying out the expansion works. This amount will completely come from our internal accruals," Anand said.
The company would set up four units in Chennai, which would supply components to Nissan and Hyundai, he said.
Besides, it also plans to set up three units in Singur, two units in Pune and one unit each in Gurgaon, Pantnagar and Parwanoo.
He said all the new units would come in the form of joint ventures with other component manufacturers.
“We will supply four different components to Tata’s ₹ one lakh car ‘Nano´. For this we will set up three units at the Nano site," Anand said.
The company would supply shock absorbers, exhaust systems, filters and air-conditioners to Nano, he added.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
