Omax Autos has approved the proposal for diversification and expansion of existing capacity for manufacturing products and equipment supplied to railways. The company has existing manufacturing capacity of around 4,800 tonnes per annum of steel into various parts and equipment required by the railways.
In this regard, the company will invest Rs 100 crore to Rs 120 crore in phases and the proposed capacity addition is to be done in next 2-3 years. The company will fund the said proposed expansion by realisation from disposal of existing surplus assets, internal accruals and external borrowings.
Omax Autos manufactures a range of components for automobiles ranging from two-wheelers, three-wheelers, Off-Highway, passenger cars, commercial vehicles and railways.
