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

<p>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. &nbsp;The facility would have a production capacity of 600 tonne per annum. The company made an announcement in an investor presentation.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/jpg.jpg" alt="news" width="448" height="300" /></p> <p>Apart from this, the company is also planning to invest INR 25 crore in research and development.&nbsp; The company has already purchased a 36,500 sqm land for the new plant, as reported.</p> <p>The plant will be for aluminium gravity and low pressure die casting.&nbsp; The facility would have a separate machine shop that will focus on precision parts like compressor housings. &nbsp;The new die casting plant would have annual sales of INR 2,000 million by 2019-20, the company expects.</p> <p>{googleAdsense}<br /> <br /> Ashok Minda, Chairman and Group CEO said, "During the year, we continued our journey of&nbsp;expansion&nbsp;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.&rdquo;</p> <p>&ldquo;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&nbsp;Spark Minda Technology Centre, our state of art R&amp;D facility, is now fully operational."</p>