Uno Minda to invest ₹300 crore to expand manufacturing capacity in Haryana
1 min read 25 Aug 2022, 05:06 PM ISTThe investment will be done to set up manufacturing facilities of 4-wheeler alloy wheels and 4W automotive switches in Haryana's Bawal and Farrukhnagar.
PremiumAuto parts maker Uno Minda is all set to invest around ₹300 crore to expand its manufacturing capacity of four-wheeler alloy wheels and 4W automotive switches to meet rising demand, its said on 25 August.
Apart from this, the firm also revealed its plans to set up a subsidiary and office in Dubai to enhance its aftermarket division's reach in the MEA region.
The firm said that Uno Minda Limited's key subsidiary Minda Kosei Aluminum Wheel Private Limited will be expanding its 4W Alloy wheel capacity by 60,000 wheels/month to 240,000 wheel/month at its plant in Haryana's Bawal at an additional investment of ₹190 crore.
ALSO READ: Mahindra XUV300 facelift version likely to launch soon: What to expect
The expansion is expected to be commissioned in two phase with the first phase of 30,000 wheel/month by December 2023 and remaining in June 2024.
Uno Minda's another subsidiary Mindarika Private Limited (MRPL) is also setting up a new manufacturing plant at in Gurugram's Farrukhnagar to cater to increased demand of 4W automotive switches from domestic and overseas customers, the company said. The project cost for setting up Phase 1 will cost the firm around ₹110 crore which is expected to be completed by September 2023.
Dubai footprint will entail setting up of a wholly-owned subsidiary and an office in Mainland Dubai in order to enhance the company's market reach in African & Middle East markets with focus on aftermarket segment, the company stated.
With PTI inputs.
