Omax Auto inks MoU with PSP Co

New Delhi, Feb 5 (UNI) Omax Autos Ltd today said it has entered into a memorandum of understanding (MOU) with Iran-based PSP Co to set up two joint venture companies for exploring the possibilities to expand the business of manufacturing auto parts.

Out of the two JV companies, one will be set up in India and the other in Iran, a company statement said.

Recently, the company announced setting up of new manufacturing unit at Lucknow for manufacturing chassis for Medium and Heavy Commercial vehicles.

UNI