Auto components maker Uno Minda Ltd said Thursday that its subsidiaries that manufacture alloy wheels and switches will expand their production capacity at a cost of Rs 300 crore.
According to the company, its subsidiary Minda Kosei Aluminum Wheel Private Ltd. will expand the capacity of its 4W alloy wheels by 60,000 wheels/month to 240,000 wheels/month at its plant in Bawal, Haryana.
The incremental capital expenditure for expansion of the above mentioned capacity will be Rs. 190 crore.
The expansion is expected to run in two phases with the first phase of 30,000 wheels/month in December 2023 remaining in June 2024.
Uno Minda said its other subsidiary, Mindarika Private Limited (MRPL), is setting up a new plant in Farrukhnagar (Gurugram, Haryana) to meet the growing demand for 4W switchgear for cars from Indian and international customers.
The project cost for setting up the first phase of the manufacturing plant at Farrukhnagar will be around Rs 110 crore to be completed by September 2023.
The first phase of the plant will manufacture partial products for use in the manufacture of automotive components.