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| Exchange Received Time 05/11/2018 16:39:00 Exchange Disseminated Time 05/11/2018 16:39:05 Time Taken 00:00:05 | We wish to inform that the Board of Directors of the company in their meeting held today i.e. 5 November, 2018, has also approved the following: -
Setting up a Controller and Telematics Manufacturing Plant.
Board approved the investment for setting up a new manufacturing plant of controller and telematics for 2W and 4W in Pune, Maharashtra, for supplies to OEMs.
The outlay of the project is approved for Rs. 76.52 Crores. It will be the business division of Minda Industries Limited and will operate in tandem with i-SYS to maximize synergies. The start of production is expected by Q3, 2019-20.
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