Indian steel and alloy wheel maker Steel Strips Wheels limited (SSWL) will invest approximately $47 million to expand and modernize its manufacturing facility in the western state of Gujarat, the company said in a statement on Wednesday, December 31.
The proposed expansion will focus on increasing production capacity, introducing advanced manufacturing technologies and improving operational efficiency at the company's facility in Gujarat. The investment will be carried out in phases and is expected to significantly enhance SSWL's ability to meet growing demand from original equipment manufacturers (OEM) and replacement markets in domestic and international regions, it said.
The project will include the installation of new state-of-the-art equipment, automation systems and sustainable manufacturing practices that meet global standards.
SSWL is a leading steel manufacturer and light alloy wheels for passenger cars. vehicles, commercial vehicles, tractors and two-wheelers serving both domestic and international markets.
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