SETCO Automotive has signed a joint venture with Germany-based firm FTE German for setting up a plant to produce automotive parts at Kalol in Gujarat, as per a report.
The JV would invest Rs 2bn in setting up the plant, which will manufacture actuation system. The report added that the plant is expected to be ready within two years.
The report stated that the company is also planning to set up another unit in one of the special economic zones coming up in the state.
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