Chennai, Sept. 4 TI Metal Forming, a division of Tube Investments of India, expects to invest Rs 30 crore at its Sanand plant in Gujarat, which would manufacture door frames for Tata’s Nano car.
Addressing a press conference on TI completing 60 years, Mr Ramkumar, Managing Director, said the capacity of its plant would match the Nano production capacity. Initially the plant would manufacture 3.5 lakh door frames.
The company has earmarked about Rs 75 crore of capital expenditure this year, which will include the investment to be made in Sanand plant. He said that the company is in talks with Ford as well as Toyota to supply door frames for their small car. However, Toyota plans to bring a component manufacturer from Japan for its small car, said Mr Ramkumar.
“We are looking at a European collaborator for technology to grow our tubes and chains business,” he said. The company plans to acquire new technology such as carbon fibre, copper, titanium and non ferrous so that the entire cycle design would be revamped.
On the metal forms, the company has slowly been reducing its dependence on auto companies and expanding to other sectors such as railways and infrastructure sectors. He said the growth in the chain segment is driven by the industrial sector.