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Steel Strips Wheels to set up plant for CVs, tractor wheels at Pune-The 19th Guangzhou Die-casting, Foundry & Industry Furnace Exhibition
4/3/2018 压铸展-铸造展- Die-casting expo-foundry expo |
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Punjab-based Steel Strips Wheels (SSWL) is mulling the setting up of a new manufacturing facility for production of steel wheels for the commercial vehicle (CV) and tractor segments at Pune. SSWL plans to invest Rs 200-220 crore in a new plant that is to be located within close proximity to customers. About 60 percent of this amount will be funded through external debt and the balance through internal accruals.
SSWL sees opportunity emerging in the commercial vehicle sector post the government’s decision to deregister CVs after 20 years starting 2020.
This will trigger fresh demand for replacing the existing fleet of vehicles. In addition, the upcoming BS-VI regime from 1 April 2020 will involve a lot of pre-buying activity as was seen prior to the enforcement of BS-IV norms in April last year as also the imposition of the Goods and Services Tax from July 2017.
BS-VI fitments will up the price of CVs by around Rs 5-6 lakh, and therefore, the pre-buying rush is expected prior to its enforcement.
While the concept for the new plant will be frozen over the next 3 months, the plant is subsequently expected to go on stream within 15-18 months, a company spokesperson told ETAuto. This will be the fourth plant to be set up to service this category of vehicles.
Currently, the company’s Punjab, Chennai and Jamshedpur facilities supply to the CV and tractor segments but logistics costs are a constraint in meeting needs of the western region customers.
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