Minda Industries approves capex of INR 74 crore for Minda Kosei Aluminum Wheel plant in Gujarat
On 10th December 2021, the board of auto components maker Minda Industries at its meeting has approved Capex of INR 74 crore for the Minda Kosei Aluminum Wheel plant in Gujarat.
The auto wheel manufacturer Minda Kosei has proposed expansion of its Gujarat plant production capacity from 90,000 to 120,000 wheels per month.
The board of directors reviewed the Detailed Project Report (DPR) of Minda Kosei. The cost of the project approved is INR 74 crore. The mushrooming of production is anticipated to commence in Q1 FY2023-24.
The JV Company Minda Kosei Aluminum Wheel Pvt. Ltd. (MKA) is established with its head office in Bawal, Haryana and is the largest alloy wheel manufacturer in India. MKA is engaged in the development, manufacturing and sales of aluminium alloy wheels for major OE car manufacturers and aftermarkets in India.
Minda Kosei has 2 plants in India, the 1st plant is located in North India in Bawal, Haryana, while the 2nd plant is in Dekavada, Gujarat.
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