Automotive components manufacturer, Rane NSK Steering System will soon be investing Rs 20 crore for setting up a new plant in Singur. This would enable the company to supply parts to Tata Motors for its Rs one lakh car, the Nano. Apart from Tata Motors, Rane NSK already supplies parts to Maruti Suzuki, and the Indian operations of Honda, Ford and Toyota.
The company plans to supply manual steering gear, engine valves and seat belts for the Nano, from the proposed plant. It has already acquired five acres of land for setting up the unit, said R Narayanan, president, Rane NSK Steering System.
Apparently on a growth spree, Rane NSK is alsp starting a new manufacturing facility in Bawal, Haryana, from where the company will make electric power steering systems for North-based auto manufacturers. The plant will have an initial capacity of 200,000 steering systems per annum.
In three to five years, Rane NSK expects 25% of its revenues to come from exports. Set up 10 years ago, the company is a 50:50 JV between the Rane Group and NSK of Japan.
Friday, May 16, 2008
Rane NSK Steering System to invest Rs 20 crore in Singur
