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IFC to invest $9 million in JMT Auto's expansion, debottlenecking program

International Finance Corporation (IFC) under its investment strategy has planned to invest $9 million in JMT Auto for its expansion and debottlenecking program at its existing component manufacturing, forging and foundry operations at Jamshedpur.

The $20 million project will include Greenfield cold forging facility on 3.1 acre of land taken on lease basis at Jamshedpur. The project would not only help in reducing scrap rates along with better mechanical properties to the end products but also intends to ramp up the company's Heat Treatment and CNC machining capacity.

JMT Auto is one of the leading Auto component manufacturers in Eastern region. The company had identified Transmission Components as its key business area and acquired core competency in manufacturing products.

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