Minda Industries announced that UNO Minda Group is entering into a joint venture agreement with Kosei International Trade and Investment Company. The proposed plant of the joint venture company will be located at Bawal (Haryana) for manufacturing and supply of alloy wheels for passenger vehicles.
The company's proposed shareholding 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 crores. (First phase) The commercial production of the plant is expected for February 2016 with a monthly capacity of 60,000 units.
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