Breaking News

You are here » Indian-Commodity  :  Corporate  :  IFC to invest $9 million in JMT Auto's expansion, debottlenecking program


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.

Related News

View all news

Hero MotoCorp sells 6.06 lakh units in September 2015

Hero MotoCorp (HMCL), the world's largest two-wheeler manufacturer, has registered 0.45% growth in September 2015 by selling 606,744 units as compared to 604,052 units sold in the corresponding month last......

Gujarat Industries Power Company inks agreements under PSDF Support Scheme

Gujarat Industries Power Company (GIPCL) has inked following agreements on September 30, 2015, under the Power System Development Fund (PSDF) Support Scheme (Phase II) of the MoP, Government, of India,......

Tata Motors sells 45215 units in September 2015

Sales of Tata Motors passenger and commercial vehicles (including exports) were lower by 2% at 45,215 units, sold in September 2015, over 46,154 vehicles sold in September 2014. The domestic sale of Tata......

Top News

View all news

Hexaware, HCL Technologies and Kalpataru Power to see some action today

Hexaware Technologies, a leading global provider of IT, BPO and consulting services has entered into partnership with MuleSoft, the company that makes it easy to connect applications, data and devices,......

L&T, NMDC, Tata Motors and Tech Mahindra to see some action today

Domestic manufacturer Larsen and Toubro has emerged as the finalist for a $750-million (about Rs 5,000 crore) contract to supply 100 self-propelled artillery guns to the Indian Army. The Vajra will be......

Achieving 25% of GDP from manufacturing by 2022 a difficult task: CII-BCG survey

Raising serious doubts over the rate at which the government's ambitious 'Make in India' initiative is progressing, a recent survey from the Boston Consulting Group (BCG) and apex industry chamber Confederation......