Pricol, a leading automotive components manufacturer based in Coimbatore, has commissioned a greenfield plant worth Rs 150 crore in Pune.
G Sundararaman, president of Pricol Limited, said, “the investment in the new plant in Pune is only in plant and machinery. The building has been taken on lease.”
At present, Pricol has six manufacturing plants in the country, including three in Coimbatore, and one each at Manesar, Pune and Rudrapur. These apart, the company also has manufacturing facilities in Jakarta, Indonesia and Sao Paulo.
The new plant in Pune, spread over 6.58 acres, aims to generate Rs 220 crore annual revenue in two years’ time. Besides catering mainly to the domestic market, it will also look at export of high-end products such as telematics.