Wheels India mulls Rs 100 crore capex this year for wind energy segment

Steel wheels NSE -3.25 % manufacturer Wheels India NSE 2.23 % has planned a capital expenditure of Rs 100 crore this year for the wind energy segment and would set up up a plant near Chennai, a top company official said here on Saturday. In addition, the city-based company would look at investing a ‘good portion’ for the second phase of the cast aluminium plant, Managing Director Srivats Ram said.

“Wheels India is planning a capital expenditure of Rs 100 crore that will go into the wind segment where we will be setting up a new plant in Thervoy Kandigai near Chennai.

We currently have built up capacity for 3.50 lakh wheels and we will be taking this upto 7.50 lakh wheels”, he said.