UNO Minda to invest Rs 300 cr
UNO Minda – UNO Linda (previously Minda Industries), a manufacturer of auto parts, would invest up to Rs 300 crore to increase capacity at its two sites in Haryana. The Manesar-based company announced today that it needs to increase the number of alloy wheels and automotive switches it can produce for four-wheelers.
One of Uno Minda Ltd.’s major subsidiaries, Minda Kosei Aluminum Wheel Pet. Ltd., will increase the monthly production of four-wheeler alloy wheels at its Bawal, Haryana, plant by 60,000 wheels, to 240,000 wheels. In order to do so, an extra capital investment of Rs 190 crore would be necessary. The expansion is anticipated to be completed in two parts, with the first phase beginning in December 2023 and the second phase ending in June 2024. As alloy wheels have become one of the most sought-after accessories for four-wheeler purchasers in India, it will respond to the increased demand fueled by the growing application factor, the business said.
A new manufacturing facility is being built at Farrukhnagar (Gurugram, Haryana) by Mindarika Private Limited (MRPL), another Uno Minda subsidiary, to meet the rising demand for four-wheeler automotive switches in both Indian and international markets. The first phase of the production factory at Farrukhnagar is projected to cost close to Rs 110 crore to set up, and it would be finished by September of next year. Products used in the first phase of the plant’s operation will be released. According to the company, the new unit will be near to its current Manesar plant and will benefit from significant operational synergies. The business intends to maintain enough land in the area for future growth.
In order to expand its market reach in the African and Middle Eastern regions and focus on the aftermarket market, UNO Minda also intends to open an office and a completely owned subsidiary in Dubai.