Uno Minda to invest ₹1,415 crore to boost manufacturing capacity
Auto Component maker Uno Minda on Tuesday said it plans to invest Rs 1,415 crore as it embarks on a strategic expansion drive across its business verticals aimed at strengthening its manufacturing footprint and boosting capacities across key divisions.
The Rs 1,415 crore capital expenditure will cover setting up a new aluminium casting unit in Hosur, Tamil Nadu, as well as expanding and relocating its two-wheeler alloy wheel manufacturing operations in Kharkhoda, Haryana.
With the existing Hosur facility at the current location having reached its practical expansion limits, the company will establish a new greenfield facility on another existing land parcel at Thally Road, Hosur, with an estimated additional capex of Rs 510 crore.
Existing Hosur operations will be consolidated and relocated to the new facility by Q1FY2, the company said, adding that the aluminium casting capacity at the Hosur location will go up to 34,000 MT at peak from around 13,000 MT.
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