Anand Automotives to invest Rs 500cr in its Gurgaon Cos

New Delhi, Sep 1 (UNI) Anand Automotive Systems, manufacturers and suppliers of automotive components, will invest Rs 500 crore in its group companies in Haryana's Gurgaon region over a period of five years.

The group has six operating companies in Gurgaon and will primarily focus on expansion within these companies, besides considering some potential new ventures.

''Foreseeing growth in the region with expansion at the OEMs like Maruti Udyog, Nissan, Honda for passenger cars and Suzuki, Honda for two-wheelers, the group plans to make Gurgaon, an important hub for its future growth and development to meet increasing customer capacities,'' a company statement said.

In view of this, the group is planning expansion of its capacities and product portfolio of shock absorbers, engine bearings, filters, synchronise rings and sealants, the statement added.

With this move, it expects to achieve its target of doubling sales turnover in 5 years.

This investment is also expected to offer employment opportunities to over 10,000 people for direct and indirect employment in the region.

Established in collaboration with leading companies in the automotive segment, the group employs 6,000 people. It has 17 companies, operating 40 manufacturing facilities across nine states in India, with an annual turnover of Rs 2,200 crore.

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