UNO Minda to invest Rs 300 cr to expand capacity

Auto components maker UNO Linda (formerly Minda Industries) will be investing up to Rs 300 crore to expand capacities at its two plants in Haryana. The Manesar-based company is in need of increasing its production capacity of alloy wheels and automotive switches for four-wheelers, it said today.

Minda Kosei Aluminum Wheel Pet. Ltd., one of the key subsidiaries of Uno Minda Ltd., will be expanding its four-wheeler alloy wheel capacity by 60,000 wheels per month to 240,000 wheel per month at its plant in Bawal, Haryana. For which, it would require to incur an additional capital expenditure to the tune of Rs 190 crore.  The expansion is expected to be commissioned in two phases with the first phase of 30,000 wheel per month in December, 2023 and remaining in June, 2024. It will cater to the increased demand fuelled by increasing application factor as alloy wheels have emerged as one of the most sought after accessory for four-wheeler buyers in India, the company said.

Mindarika Private Limited (MRPL), another subsidiary of Uno Minda, is setting up a new manufacturing plant at Farrukhnagar (Gurugram, Haryana) to cater to increased demand of four-wheeler automotive switches for Indian and overseas markets. The project cost for setting up the first phase of the manufacturing plant at Farrukhnagar is expected to be close to Rs 110 crore and will be completed by next September. The phase one of the plant will roll out products used for manufacturing of auto components. The upcoming plant will be located close to its existing Manesar plant deriving significant operational synergies, it said. The company plans to keep adequate land in the location for future expansions.

UNO Minda is also planning to set up a wholly owned subsidiary and an office in Dubai, in order to enhance its market reach in African & Middle East with an eye on the aftermarket segment.