Lumax Auto Technologies has decided to set up a greenfield project in Bangalore for the supply of plastic moulded parts to Honda Motorcycle and Scooters India (HMSI). The plant is expected to be operational by the first quarter of fiscal 2013-14.
Lumax is to supply plastic moulded parts for various models of HMSI to be manufactured at its third facility in Bangalore which includes Activa Scooters (110cc) and Dream Yuga motorcycle (110 cc).
The company plans to spend Rs 80 crore for setting up the new plant. Majority of the funds are through internal accruals.