Rane Madras mulls Rs 9.5 cr stearing gears plant for Tata Motors
New Delhi, Aug 23 (UNI) Rane Madras Ltd today said its board has approved to establish a manufacturing facility in Uttaranchal with an initial investment of Rs 9.3 crore, to supply stearing gears to Tata Motors Ltd (TML).
''The board of directors of the company has decided to set up a manufacturing facility in Uttaranchal, a tax incentive state, to supply stearing gears exclusively to TML,'' a company statement said.
The facility, which would enjoy tax benefits under the Income Tax Act, 1961, would be located in TML's Vendor Park at Uttaranchal.
The initial capacity of the unit will be 250 stearing gears per day.
The company, a part of the Rs 1200 crore Rane Group, has three manufacturing plants at Chennai, Mysore and Pondicherry.
It manufactures steering linkages, ball joints, axial joints, suspension joints and manual steering gears.
UNI CS PV KP1816