Minda Industries, a UNO Minda Group, is entering into a Joint Venture Agreement (JVA) with Kosei International Trade and Investment Company, a Kosei Group Company. The Kosei Group is a leading Japanese Alloy Wheel manufacturer.
The proposed plant of the joint venture company will be located at Bawal in Haryana for manufacturing and supply of alloy wheels for passenger vehicles. The proposed shareholding of the Joint Venture Company will be in the ratio of 70:30 i.e. UNO Minda Group 70% and Kosei Group 30%.
The cost of the project is estimated at Rs 200 crore. The commercial production of the plant (first phase) is expected for February, 2016 with a monthly capacity of 60,000 units.
Minda Industries is engaged in the business of manufacturing switches and batteries for 2/3 wheelers and off-road vehicles.
