Lumax to invest Rs 200 cr for expansion
Automotive light maker Lumax Industries Ltd will invest Rs 200 crore over the next 15 months to modernise its existing plants and setting up three greenfield manufacturing facilities.
By PTI |
NEW DELHI: Automotive light maker Lumax Industries Ltd will invest Rs 200 crore over the next 15 months to modernise its existing plants and setting up three greenfield manufacturing facilities.
The company, which is a joint venture between Lumax Industries of India and Stanley Electric Co of Japan, would invest in setting up three new facilities - one each in Singur, Pantnagar and Haridwar.
"Both the partners have decided to have an equal stake in the JV and we will jointly invest Rs 200 crore over the next 15 months," Lumax Industries Ltd Chairman and Managing Director D K Jain told reporters here.
He said besides the three new plants, the company would also invest in strengthening its R&D operations in the country.
Post the expansion, the company would take its overall manufacturing capacity to 8.5 million light sets per annum from the current six million.
The company, which is a joint venture between Lumax Industries of India and Stanley Electric Co of Japan, would invest in setting up three new facilities - one each in Singur, Pantnagar and Haridwar.
"Both the partners have decided to have an equal stake in the JV and we will jointly invest Rs 200 crore over the next 15 months," Lumax Industries Ltd Chairman and Managing Director D K Jain told reporters here.
He said besides the three new plants, the company would also invest in strengthening its R&D operations in the country.
Post the expansion, the company would take its overall manufacturing capacity to 8.5 million light sets per annum from the current six million.
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