Uno Minda lays foundation for INR 542-cr greenfield alloy wheel plant in Haryana – ET Auto

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Uno Minda had recently secured an allotment of a strategic land parcel of 94.32 acres at IMT Kharkhoda, Haryana HSIIDC, to fuel its ongoing and future expansions.

New Delhi: Uno Minda Limited (Uno Minda) (formerly known as Minda Industries Limited), a leading global manufacturer and supplier of proprietary automotive solutions to OEMs as Tier 1, Wednesday laid the foundation stone for its upcoming greenfield passenger vehicle alloy wheel plant with a capacity of 120,000 wheels per month at IMT Kharkhoda, Haryana.

The plant with a capital outlay of INR 542 crore will be set up in a phased manner over the next 5 years with phase 1 commissioning in Q2 FY26, the company said.

Uno Minda had recently secured an allotment of a strategic land parcel of 94.32 acres at IMT Kharkhoda, Haryana HSIIDC, to fuel its ongoing and future expansions. A part of this land, around 25 acres, has been designated for this greenfield Alloy wheel plant, the company said in a media release.

IMT Kharkhoda is evolving as a thriving industrial centre with a mega plant of a leading passenger car OEM already under construction and various downstream units securing land for their own investments. The authorities are further boosting the region by offering streamlined clearances under one roof. This location offers Uno Minda logistical advantages for sourcing and supply with its various suppliers and customers at the Industrial Township as well as in the vicinity.

Last year, Uno Minda had acquired 86 acres of land at Khed City Industrial Park, Pune, followed by recent acquisition of 37 acres in Hosur, Tamil Nadu, and 94.32 acres in IMT Kharkhoda, Haryana. It is also in process of acquiring land in Gujarat, the company said.

These acquisitions also mark a shift in the company’s strategy, moving from buying a pocket of land as per the exact requirement every time the company buys large plots of land to meet the present and future needs.

This revised strategy offers two key advantages: First Uno Minda avoids delays associated with land acquisition by having readily available land, enabling a quicker response to growth opportunities. Secondly, larger plots allow for building bigger plants and consolidating existing ones, leading to improved operational management and economies of scale.

Nirmal K Minda, CMD, Uno Minda Group, said. “Over the past two decades, our company has achieved sustained growth, resulting in multiple plants at various locations. To propel ourselves to the next leg of growth, we are embarking on a strategic expansion plan. This plan involves the establishment of large-scale, technologically advanced mega factories alongside the consolidation of the existing facilities for enhanced operational efficiency and economic optimization. As part of this plan, we started construction of mega 4W lighting in Pune Khed city last year and now groundbreaking for the 4W Alloy wheel plant at IMT Kharkhoda. We remain firmly optimistic about the long-term prospects of the industry through the domestic manufacturing of cutting-edge technologies.”

  • Published On Apr 10, 2024 at 05:14 PM IST

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