In a bid to expand its capacity and support its new projects, Pricol is planning to invest about Rs 225 crore in new plant and machinery during this fiscal.
Out of the total capex, the Coimbatore-based auto parts maker has earmarked about Rs 130 crore for building, infrastructure and plant and machinery expansion.
It has allocated Rs 40 crore for Pricol Wiping Systems and Rs 10 crore for Brazil operations. Pricol’s Rs 32-crore greenfield unit at Sri City near Chennai is expected to be operational by October.
Speaking at the company’s annual general meeting recently, Vikram Mohan, Managing Director, said, “The facility, which will also have a 250 kw rooftop solar facility, is coming up on six acres at the SEZ. This will be its 10th manufacturing unit in India.”
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