 "Rico Auto aims for Rs 315 cr revenue from new Rajasthan plant")
The auto component maker Rico Auto Industries Ltd, which began construction work for its new manufacturing facility at Pathredi, Bhiwadi (Rajasthan) last week, aims to generate additional Rs 315-330 crore of revenue by FY19 once the new facility starts production in full swing.
The company, which recently commissioned its Chennai plant to supply engine parts to Renault Nissan joint venture, is reportedly investing Rs 135 crores in the new facility that will have a total capacity of 18,000 tonnes.
The company, a specialist in brake systems and die-castings, plans to start commercial production at the new plant by the next financial year. In addition, Rico Auto is aiming to more than double its revenues by 2020 from about Rs 1,000 crores that was recorded last year.
The company, which recently commissioned its Chennai plant to supply engine parts to Renault Nissan joint venture, is reportedly investing Rs 135 crores in the new facility that will have a total capacity of 18,000 tonnes.
The company, a specialist in brake systems and die-castings, plans to start commercial production at the new plant by the next financial year. In addition, Rico Auto is aiming to more than double its revenues by 2020 from about Rs 1,000 crores that was recorded last year.