MACHINIST.IN


Autoline Industries Ltd to set up manufacturing facility at Dharwad
Written by Vijay   
Tuesday, 15 November 2011
Mumbai: Autoline Industries Ltd is planning to set up manufacturing facility at Dharwad for Tata Motors Limited's expansion of capacity for IRIS & ZIP and other new models. This was approved by the Board of Directors of the Company at its meeting held on November 11, 2011.

The business expected to be generated is approximately Rs. 200 Crore p.a. starting from the Financial Year 2012-13. The manufacturing facility of Tata Marcopolo Motors Limited at Dharwad produces fully built buses for intra-city and inter-city transportation.

The Company has appointed Ravindra E. Ketkar as Chief Financial Officer (CFO) of the Company in place of Narayan G. Bhat. Ravindra E. Ketkar has 28 years of experience in Finance, Enterprise Resource Planning (ERP) implementation, Costing & Accounts.

After receiving the Letter of Intent from Government of Maharashtra for Mega Project Status, Autoline Industries has submitted required documents for getting the Eligibility Certificate. The Company plans to submit the claim for getting the various benefits under Package Scheme of Incentives (PSI) 2007 starting from October, 2009 to March 31, 2011 and then every financial year on receiving the Eligibility Certificate.
 
Related news
More recent
Earlier on