New Delhi, Oct 21: Omax Autos Ltd, a part of the Omax Group, has said it will invest Rs 100 crore in a phased manner in the construction and development of its new manufacturing plant at Lucknow that will be commissioned by July next year.
In the first phase, the investments will be around Rs 55 crore for making 50,000 chassis. While in the second phase, it will increase to Rs 100 crore for manufacturing one lakh chassis, yielding a turnover of about Rs 240 crore.
The firm has started the construction of its Lucknow unit that will produce chassis for light, medium and heavy commercial vehicles for Tata Motors, a statement said.
Omax Autos manufactures producer of sprockets, sheet metal, tubular and machined components for both the auto and non-auto industries.