Financial Daily from THE HINDU group of publications
Saturday, Mar 18, 2006
Financial Daily from THE HINDU group of publications Saturday, Mar 18, 2006 |
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Corporate
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New Projects Lucas-TVS plans multi-location expansion Our Bureau
MORE UNITS: (From right) Mr Tadashi Onishi of JTEKT Corporation and leader of the Japanese delegation of management professionals; Mr T.K. Balaji, Managing Director, Lucas-TVS Ltd, and Mr Yoshiaki Kodaki, Consul General of Japan, at a function in Chennai on Friday — Bijoy Ghosh
Chennai , March 17 The Chennai-based Rs 725-crore Lucas-TVS Ltd is panning out across India. One project that is under way is the Rs 15-crore Chakan plant near Pune for starter motors. It is expected to be operational by the year end. The second is a Rs 4-crore project for producing components and sub-assemblies near the company's existing plant at Pondicherry. This plant too is under construction. The third plant is on the anvil and could come up either at Himachal Pradesh or Uttaranchal. Even though the plans are yet to be firmed up, theChief Executive and Managing Director, Mr T.K. Balaji, said the plant would chug Tata Motors' project in the hill states.
Iran project going ahead
He told presspersons here that the company's Iranian project was going ahead with only a slight delay. The project, for producing starter motors, is being put up under a joint venture with Feiz Ghadir Industries of Iran. Answering a question, Mr Balaji said the venture was not affected either by Iran's face-off with the US (over its nuclear enrichment programme) or by India voting against Iran in a UN resolution last month, for referring the country's nuclear programme to the UN Security Council. Mr Balaji met presspersons on Friday on the occasion of a visit of an `overseas study team' from Toyota group and its suppliers from Japan to the Lucas-TVS plant here. The team's mission is to expose its members to the best practices among companies around the world. The team's leader, Mr Tadashi Onishi of JTEKT Corporation, said there was "no magic in quality" but quality came from working in a disciplined way.
More Stories on : New Projects | Automobile Components
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