New Delhi, May 12: Auto component manufacturer JBM Auto Ltd today said it has entered into a Joint Venture(JV) agreement with Ashok Leyland with an estimated investment of Rs 100 crore.
The joint venture will set up state-of-art facilities at Pant Nagar, Uttarakhand for supplying of sheet metal components for Ashok Leyland's G90 Cab and G-90 FES, the company said in a statement. The unit will have large pressing and welding facilities. JBM Auto will hold 74 per cent equity while Ashok Leyland will hold 26 per cent in the JV which will commence commercial operations from 2010 in line with the Ashok Leylands plan for the production of commercial vehicles.
Country's second largest commercial vehicle manufacturer, is setting up integrated facilities at Uttarakhand.