Autoline Industries has received an approval to set up manufacturing facility at Dharwad in Karnataka for Tata Motors’ expansion of capacity for IRIS & ZIP and other new models. The business expected to be generated is approximately Rs 200 crore per annum starting from the financial year 2012- 13.
Also, the company after receiving the letter of intent from Government of Maharashtra for mega project status has submitted required documents for getting the eligibility certificate. The company plans to submit the claim for getting the various benefits under package scheme of incentives (PSI) 2007 starting from October, 2009 to March 31, 2011 and then every financial year on receiving the eligibility certificate.
The board at its meeting held on November 11, 2011 has considered and approved for the above.
Autoline Industries is a manufacturer of pressed sheet metal automotive components and assemblies, and is engaged in design engineering for automotive original equipment manufacturers (OEMs) based in India, the US and Europe.
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