OK Play India plans to manufacture automotive components

Mumbai, May 16 (UNI) OK Play India plans to manufacture the latest generation automotive components with a foreign collaborator and estimates an annual turnover of over Rs 250 crore from this venture.

The Company has submitted a project report in this regard to the land allotment committee.

The Company has informed the BSE it had applied to the Higher Level Plot Allotment Committee for NRI Applicants/FDI Projects/ Prestigious Projects in Haryana for allotment of industrial land, and the has decided to allot industrial land at Haryana to the Company.

This land has been alloted for shifting and expanding the Company's existing operations and setting up an automotive plastic moulded components project.

The Company is in an advanced stage of negotiations for a proposed collaboration agreement with a leading manufacturer of Rotationally Moulded plastic products in the United States of America with whom a Memorandum of Understanding has already been signed.

UNI