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KLT Automotive & Tubular Products, manufacturers of chassis and related components, will invest over Rs 320 crore in setting up two chassis manufacturing units in Chennai and Sri City and expand their existing unit.
Bhavin Thakkar, Chairman and Managing Director, said the company will invest Rs 70 crore in expanding its dedicated truck chassis manufacturing unit at Daimler’s truck making unit in Oragadam, near Chennai.
The expansion will be in line with the truck manufacturer’s output that is set to double from the present 35,000 units, he said.
Of the two greenfield chassis units, one will come up in Sri City to meet the needs of the Japanese OEMs setting up manufacturing units there.
The other will be near Chennai, which has emerged a hub for automobile units, he said. The investments will be made over the next couple of years. They will generate over 2,000 jobs, he said.
KLT Automotive has 11 chassis making units in India and one in South Africa.
balaji.ar@thehindu.co.in
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