According to the company, its subsidiary
The additional capital expenditure for the above-mentioned capacity expansion will be Rs 190 crore.
The expansion is expected to be commissioned in two phases, with an initial phase of 30,000 wheels/month in December 2023 and the remaining phase in June 2024.
The project cost to set up Phase 1 of the Farrukhnagar plant is about Rs 110 crore, which will be completed in September 2023.
Phase 1 of the plant will produce partial products that are used for the production of automotive parts.
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