WABCO India Ltd., a commercial vehicle technology provider for trucks, trailers, buses, said that it will incorporate a fully-owned subsidiary in Tamil Nadu for establishing a new manufacturing unit to meet the growing demand and support growth in its exports.

The subsidiary will have an authorised and paid up capital of INR 1 crore, said WABCO India.

WABCO India said that presently it exports from its plant in Mahindra World City, Chennai and serves its domestic customers from its plant in Ambattur, also in Chennai.

The commercial vehicle technology provider said that there is no opportunity for further expansion at the two plants as the entire land and floor space have been used up.

WABCO India has signed a memorandum of understanding (MoU) with the Tamil Nadu government for the proposed expansion project.

WABCO India stated: “There is an immediate need for setting up a new manufacturing unit to cater to the increased demand and support growth in exports. In this regard, the Company has identified land parcels at Phase II, SIPCOT Industrial Estate, Oragadam Tamilnadu with Land Parcel- A admeasuring 31.5 Acres and Land Parcel-B admeasuring 18.5 acres totally admeasuring 50 Acres on lease for a period of 99 years towards setting up of a manufacturing unit.”

The commercial vehicle technology provider said that its board had approved the company entering into a lease deed with the SIPCOT Industrial Estate for growing its operations.

  Chennai, India, Tamil Nadu, WABCO India