The Rs.3.2 billion Jamuna Auto industries Ltd is going to choose between Chennai and
Jamshedpur to locate its research and development (R&D) centre. Planned at an outlay of Rs .150 Million, the R&D Centre would employ over 50 engineers. According to jamuna Auto CEO
Randeep jauhar, the company would need around 10 acres for the proposed centre." Getting land Allotted near Chennai is very difficult, he told the media in Chennai. Jamuna Auto prefers Chennai As the group company Jai Parabolic springs Ltd has a plant here to make parabolic springs. Jauhar Said the company is also looking at Jamshedpur for the R&D centre.
The company has recently acquired Tata Motors leaf spring plant springs plant at
Jamshedpur for Rs.150 millions. It is now building a new factory there at an investment of Rs. 750
million. The proposed plant will have a total capacity of around 50,000 tonne per annum (tpa).
The company is also putting up a Rs.100 million plant in Uttarakhand to assemble parabolic springs
For Tata Motors vehicle. The company will fund the expansion wit ha mix of debt and internal
Accruals.it has already raised US$ 8 million through external commercial borrowings. It plans
to raise another $8 million through the same route. Presently, the group commands 60 per cent
of the Indian auto springs market. Its share in the replacement market is how ever just six percent.
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| Posted : 2/27/2008 |
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