Business Daily from THE HINDU group of publications
Friday, Sep 29, 2006

Cross Currency

Group Sites

Corporate - New Projects
Omax Autos plans to set up plant in Uttaranchal

Neha Kaushik

New Delhi , Sept. 28

Omax Autos is planning to set up a plant in Uttaranchal.

According to sources, the company is seriously considering a proposal to set up a plant in the State, which would primarily cater to Hero Honda's upcoming unit in Uttaranchal.

The investment for the project is estimated to be in the vicinity of Rs 80-100 crore.

Hero Honda is Omax's largest client, with about 67 per cent of the company's domestic sales coming from it.

The Rs 585-crore Omax currently manufactures sheet metal tubular and machined components and would be making the same components at the proposed plant.

Last month Hero Honda announced its decision to set up a new plant in tax haven Uttaranchal, to be operational by May 2007.

The plant would start with an initial capacity of five lakh units, to be scaled up to 15 lakh by 2010.

Uttaranchal has seen a rush of ancillary companies setting up units after major automotive players such as Hero Honda, Bajaj Auto and Mahindra & Mahindra announced big-ticket projects in the State.

Omax will also invest Rs 60 crore to expand capacities at its current units in Haryana.

More Stories on : New Projects | Automobile Components

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Ranbaxy launches Storvas in Malaysia

Stovekraft opens new outlet
Gulf Oil plans $100-m overseas issue
Nalco net up at Rs 1,562 cr; to pay 50 pc dividend
NCC bags Rs 200-cr orders
Meet for budding managers
IOC liquidates Rs 1,450-cr bonds
ICI Paints to create Rs 1,500-cr corpus for acquisition
M&M to acquire 67.9% stake in German co Jeco Holding
MetroCorp, Jurong tie up for township project in Coimbatore
Omax Autos plans to set up plant in Uttaranchal
Metro Tyres increases capacity
Sical Logistics buys Bergen Offshore for $96.9 m
BHEL looking at equity option in power projects
Shell offers business model on profit-sharing to ONGC
Diagnostic centre in tie-up with Wellspring
Good response to e-filing by companies
Pepsico India to start seaweed cultivation in coastal Gujarat
Khaitan Electricals aims at Rs 1,000-cr topline by 2009
Shetron targets Rs 500-cr turnover
Hyundai to focus more on domestic market
HPCL making marginal profit on sale of petrol

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line