Uno Minda plans Rs 300 cr capacity expansion

27 Aug 2022 , 01:32 AM

Uno Minda is investing around Rs 300 crore in expanding its manufacturing capacity of 4W Alloy Wheels and 4W Automotive switches to meet rising demand Minda Kosei Aluminum Wheel one of the key subsidiary of Uno Minda will be expanding its 4W Alloy wheel capacity by 60000 wheelsmonth to 240000 wheelmonth 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 30000 wheelmonth in December 2023 and remaining in June 2024 The expansion will cater to increased demand fuelled by increasing application factor Alloy wheels have also emerged as one of the most sought after accessory for 4W buyers in India Mindarika MRPL another key subsidiary of Uno Minda Limited 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 Farrrukhnagar will be approx 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 The new plant will be strategically located 15 km from the existing Manesar plant deriving significant operational synergies This location will also have sufficient land availability for any future expansion Dubai footprint will entail setting up of a wholly owned subsidiary and an office in Mainland Dubai in order to enhance the companys market reach in African Middle East markets with focus on aftermarket segment UAE being auto hub for MEA and CIS with high customer inflow will facilitate aftermarket business development in the region