Ashok Minda Group, Country’s leading auto component manufacturer, has plans to set up a new manufacturing facility in Uzbekistan with an initial investment of $25 million.

Sources reported that the raw material for the proposed Uzbekistan plant would be shipped from India to control input costs as key inputs like steel and plastic cost, which is available lower cost in India compared to abroad.

The firm is aiming to achieve sale target of around Rs 150 crore from the Russian markets next year.

Presently, Ashok Minda Group supplies instrument cluster for cars and vehicle security system from its Indian operations to Russia and CIS markets.

Apart from expanding proposed unit in Uzbekistan, the company also intended to strengthen its European manufacturing operations, which already has one production facility at Czech Republic and three plants in Germany.

Apart from units in India, the group presently also operates two plants in Indonesia and Vietnam which were established to capture the South Eastern Asian markets.
 
The group presently generates half of its total turnover of Rs 1,600 crore from its overseas operations.