Uno Minda to invest Rs 1,415 crore across business verticals to boost manufacturing capacity

Auto Component maker Uno Minda on Tuesday said it plans to invest Rs 1415 crore as it embarks on a strategic expansion drive across its business verticals aimed at strengthening its manufacturing footprint and boosting capacities across key divisionsThe Rs 1415 crore capital expenditure will cover setting up a new aluminium casting unit in Hosur Tamil Nadu as well as expanding and relocating its twowheeler alloy wheel manufacturing operations in Kharkhoda HaryanaWith 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 croreExisting 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 34000 MT at peak from around 13000 MTThe company has received Boards approval for setting up a 33 millionunit twowheeler alloy wheel capacity plant at Kharkhoda in Haryana at an additional capex of Rs 155crore The initiative includes the strategic relocation of 2million units of existing capacity from Supa in Maharashtra to the Kharkhoda plantThis plant which is to be implemented in a phased manner over the next two years with phase 1 expected to commence production by Q4FY28Besides these the company said it has lined up an additional capex of Rs 80cr for the expansion of a moulding facility in Bangalore under its subsidiary Uno Minda Kyoraku Ltd to cater to increased demand The facility is expected to commence operations by Q1FY28 it saidUno Minda further said its JV with Japanese firm Toyoda Gosei will also set up a new plant at Chhatrapati Sambhajinagar in Maharashtra under Toyoda Gosei South India Pvt Ltd to manufacture interior and exterior automotive parts airbags hoses and body sealing parts at an estimated capex of around Rs 670 crore with the new facility The facility is expected to commence operations by Q4FY29With a combined capital expenditure of Rs 1415 crore these expansions represent a disciplined approach to capturing highgrowth opportunities while strategically diversifying across product verticals and geographies said Sunil Bohra Group CFO at Uno Minda LtdThe announcements include the expansion projects in twowheeler alloy wheels aluminium casting moulding and interior exterior parts and sealing systems Uno Minda saidThese projects mark another significant step forward in Uno Mindas longterm growth journey Each of them is anchored in a clear and consistent principle investing backed by orders or firm demand visibility staying close to our customers and building stateoftheart manufacturing capabilities that are scalable efficient and futureready said Ravi Mehra Managing Director at Uno Minda LtdThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever