Sundram Fasteners to set up unit in Uttaranchal

Mumbai, May 29: Sundram Fasteners plans to set up a facility for manufacturing high tensile fasteners, powder metal parts, water and oil pumps in Udham Singh Nagar district of Uttaranchal.

In a communique to the Bombay Stock Exchange (BSE), Sundram Fasteners informed that it has been allotted land by the State Industrial Development Corporation of Uttaranchal Ltd (SIDCUL), a Government of Uttaranchal Corporation, on long-term lease basis for setting up the project.

The project is expected to be operational before the end of this fiscal.

The communique further stated that Sundram Fasteners has also acquired land on long-term lease basis in the special economic zone (SEZ) at Mahindra Industrial Park near Chennai for setting up export oriented manufacturing facilities.

Details of the projects, their cost and financing pattern are being worked-out, the communique added.

UNI