Auto components maker Uno Minda on Wednesday said it has commenced construction work on a passenger vehicle alloy-wheel plant in Haryana, entailing an investment of Rs 542 crore. The facility is located at IMT Kharkhoda in Haryana, and it will have a production capacity of 1.2 lakh wheels per month.
The plant, with a capital outlay of Rs 542 crore, will be set up in a phased manner over the next five years, with the first phase expected to be commissioned in the second quarter of of the next financial year, Uno Minda said in a statement.
Uno Minda secured a land parcel of 94.32 acre at IMT Kharkhoda, Haryana HSIIDC, to fuel its ongoing and future expansions.
A part of this land, around 25 acre, has been designated for this greenfield alloy wheel plant.
'To propel ourselves to the next leg of growth, we are embarking on a strategic expansion plan,' Uno Minda Group CMD Nirmal K Minda said.
The plan involves the establishment of large-scale, technologically advanced megafactories, alongside the consolidation of existing facilities for enhanced operational efficiency and economic optimisation, he added.
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