The board of directors of Omax Autos Ltd has okayed the proposal to establish a new manufacturing unit at suitable location in Uttar Pradesh, for manufacturing products and equipment supplied to Railways.
The existing capacity utilisation is between 90 to 100 per cent and the proposad plan would double the existing capacity.
The expansion plan requires approximately Rs 100 crore to Rs 120 crore, which would be realised from disposal of existing surplus assets, internal accruals and external borrowings.
Omax Autos Limited is one of the leading manufacturers of auto and non-auto components in India. Established in 1983, the company specialises in sheet metal components, tubular components and machined components. Omax is amongst the prime OEM (parts and assembly) suppliers.
Image Credit : omaxauto.com