Suprajit Group, a global leader in the automotive cable industry, has informed that the groundbreaking ceremony for its new plant at Vallam-Vadagal village in SIPCOT Industrial Area, near Chennai, in Tamil Nadu, was held recently. This new cable plant is expected to be operational in 2015-16.
The project is a part of Suprajit’s capex plans of Rs.60 crore over the next 18-24 months. Apart from the Vallam-Vadagal, the capex plan includes a new cable plant in Narasapura Industrial Area in Kolar district and renovation of Bommasandra plant in Bengaluru, both in Karnataka; capacity expansion of the existing Pathredi plant in Rajasthan; and additional equipment for Suprajit Automotive, a 100 per cent subsidiary.
The company expects to manage the capex requirement through internal accruals,
With a compounded annual growth of over 30 per cent, Suprajit Group claims to have one of the largest manufacturing capacities in world with 150 million cables per year. The group comprises Suprajit Engineering Ltd, Suprajit Automotive Ltd and Suprajit Europe Ltd. It currently produces a wide range of mechanical control cables for motorcycles, cars and commercial vehicles as well as various non-automotive cables. Suprajit, which is headquartered in Bengaluru, also specialises in the production of instruments, speedometers and other parts.