Deals24 May 2024, 08:57 pm
Jamna Auto Industries Approves New Manufacturing Unit for Production of Leaf and Parabolic Springs, Enters MOU with VE Commercial Vehicles
AI Summary
Jamna Auto Industries Ltd. has announced the approval of a new manufacturing unit for the production of leaf and parabolic springs in Indore. The company has also entered into a Memorandum of Understanding (MoU) with M/s. VE Commercial Vehicles Ltd. for the supply of these springs and an increase in business shares.
Key Highlights
- New manufacturing unit approved for production of leaf and parabolic springs in Indore
- MOU signed with VE Commercial Vehicles for increase in business shares and supply of springs
- Proposed annual capacity is 30,000 MT, expected commercial production by January 2026
- Investment required is around Rs.126 crore, to be financed from internal accruals
- Rationale: To enhance capacity to cater to growing demand for parabolic springs