Auto components maker Uno Minda on Thursday said its board has approved setting up a new manufacturing plant for two-wheeler alloy wheels in Haryana at an investment of around Rs 200 crore. The company board has given its go-ahead for setting up the manufacturing facility at Bawal in Haryana with an installed production capacity of 15 lakh alloy wheels per annum, the company said in a regulatory filing.
This capacity addition will cater for the recently secured orders and rising market demand.
"The total capital expenditure for this capacity expansion is estimated at around Rs 200 crore, " it added.
Further, the company said it has commenced commercial production of an additional 20 lakh alloy wheels at Supa, Maharashtra.
With the setting up of this facility, the total annual production capacity of the company's two-wheeler alloy wheels will increase from 80 lakh units to 95 lakh wheels per annum, it said.
Uno Minda shares were trading 0.25 per cent lower at Rs 925.25 apiece on the BSE.
This capacity addition will cater for the recently secured orders and rising market demand.
"The total capital expenditure for this capacity expansion is estimated at around Rs 200 crore, " it added.
Further, the company said it has commenced commercial production of an additional 20 lakh alloy wheels at Supa, Maharashtra.
With the setting up of this facility, the total annual production capacity of the company's two-wheeler alloy wheels will increase from 80 lakh units to 95 lakh wheels per annum, it said.
Uno Minda shares were trading 0.25 per cent lower at Rs 925.25 apiece on the BSE.
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