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Wheels India plans capex of Rs 100 cr

Monday, 24 May 2021
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Wheels India, steel wheels manufacturer, is planning a capital expenditure of Rs 100 crore in FY22 for the wind energy segment and will set up a plant near Chennai in Tamil Nadu.
In addition, the company will look at investing a good portion for the second phase of the cast aluminium plant.
The capital expenditure of Rs 100 crore will go into the wind segment where the company will be setting up a new plant in Thervoy Kandigai near Chennai. 
The company currently has built-up capacity for 3.50 lakh wheels and will be taking this upto 7.50 lakh wheels. During Q3/FY21, it began the first shipment of cast aluminium wheels to the US from its facility near Chennai.
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