National Plastic Technologies has secured a Letter of Comfort from Hero MotoCorp for the manufacturing and supply of both painted and unpainted plastic body parts.
The estimated annual order value is up to Rs 52.50 crore. Under this agreement, the company will set up a new manufacturing unit at or near Sri City/Tirupathi, Andhra Pradesh, with plans to complete it within six to eight months.
In the interim period, National Plastic Technologies will continue to fulfill the supply from its existing manufacturing facilities. The contract is set for a tenure of three years.