Automotive components and precision engineered products manufacturing company, Pricol has commissioned a greenfield plant in Pune, Maharashtra.
The plant, spreading over 6.58 acre of land, has been set up at an investment of Rs 15 crore. The facility aims to generate Rs 220 crore annual revenue in two years.
The investment made in the new plant in Pune is only in plant and machinery, while the building has been taken on lease. The new facility will mainly cater to the domestic market but will also look at export of high-end products.
The company is planning to make a total investment of Rs 350-400 crore till 2020 to support its growth targets.