Minda Corporation to invest INR 75 crore for die casting plant in Pune

Minda Corporation, manufacturer of die casting parts for auto and consumer durable industry, is intending to open a third die casting plant in Pune with a total investment of INR 75 crore.  The facility would have a production capacity of 600 tonne per annum. The company made an announcement in an investor presentation.

Apart from this, the company is also planning to invest INR 25 crore in research and development.  The company has already purchased a 36,500 sqm land for the new plant, as reported.

The plant will be for aluminium gravity and low pressure die casting.  The facility would have a separate machine shop that will focus on precision parts like compressor housings.  The new die casting plant would have annual sales of INR 2,000 million by 2019-20, the company expects.

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Ashok Minda, Chairman and Group CEO said, "During the year, we continued our journey of expansion and innovation with significant developments at Minda Corp. We inaugurated the new plant at Mexico and commenced the production of interior parts. We also entered into a joint venture with SBHAP, China for the supply of plastic products through Minda KTSN.”

“The setting up of the third die casting plant in Pune was initiated this year and is expected to double the capacity over the next three years. Also, I am pleased to announce that Spark Minda Technology Centre, our state of art R&D facility, is now fully operational."