Steel Strips Wheels Limited has entered into a tripartite agreement on 13 February 2026 with China-based Liuzhou Arays Technology Co., Ltd. and Hainan Jihoo Import & Export Co. Ltd. in connection with setting up an alloy wheel manufacturing facility at Bhuj, Gujarat. The agreement covers the selection, supply, installation and commissioning of machinery and equipment, along with the transfer of technical know-how and technologies for the new plant.
The scope of the agreement includes “Selection, supply, installation and commissioning of the machinery/equipment, transferring of the technical know-how and latest technologies to the Company for setting up of new manufacturing facility for alloy wheels at Bhuj, Gujarat.” The facility is planned with a capacity of 1.2 million wheels per annum.
The consideration for the agreement is approximately USD 19 million and will be paid as per the terms of the agreement. The company disclosed that the transaction does not fall within related party transactions and that the promoter, promoter group and group companies have no interest in the entities involved.
In outlining the rationale, a stock exchange stated, “ARAYS is a well-known manufacturer in the field of alloy wheel manufacturing. It has complete facilities for alloy wheel production in China and currently provides services to global automobile factories and the global aftermarket.” It further added that Arays maintains cooperative relationships with equipment manufacturers worldwide and offers technical guidance and equipment procurement services externally, and that “Thus, this will help SSWL in its current capacity expansion Planning.”
Both Liuzhou Arays Technology Co., Ltd. and Hainan Jihoo Import & Export Co. Ltd. are registered and established under the laws of the People’s Republic of China.
Steel Strips Wheels Limited is engaged in the manufacture of steel and alloy wheels and operates manufacturing facilities in India, supplying to original equipment manufacturers and the aftermarket.
