BUSINESS

MICO to invest Rs. 750 cr. in new facilities

Staff Correspondent

MUMBAI: Motor Industries Company Ltd. (MICO) has reaffirmed its commitment to invest Rs. 550 crore in India over the next three years on common rail injectors and expansion of DSLA injectors at its Nashik plant. The company and the Government of Maharashtra on Monday signed a MoU towards this here.

V. K. Vishwanathan, Joint Managing Director, Mico, said the company was planning to invest Rs. 100 crore each in Bangalore and Jaipur facilities to make pumps over the same period.

The Nashik plant has a 3000-strong employee base and is one of the worldclass manufacturing facilities for Bosch. Some of the main products manufactured at the Nashik unit are nozzles and nozzle holder assemblies. "We are the trendsetter for the automobile industry and the Nashik facility is the hub for exports to Germany and Korea. We are the deemed centre of competence for the manufacture of multi-cylinder pumps, single cylinder pumps and two-wheeler spark plugs,'' said Mr. Vishwanathan.

The common rail diesel injection (CRDI) system is one among the latest and advanced automotive technologies pioneered by Bosch. The system will contribute to making diesel cars cleaner, more economical, less noisy and sportier than ever,'' said Mr. Vishwanathan.