Brakes India Private Ltd, automotive component maker has planned to get into castings for turbochargers investing around Rs.180 crore mostly for export market, according to a senior official.
Branch of the TVS group, Brakes India supplies brake systems & castings for automotive sector.
“We observe good demand from the turbocharger industry which seems to be a sunrise sector. The capacity of the new plant is planned to be around 1.25 million pieces to start with,” V. Narasimhan, exec. , The struggle in this segment is quite stiff with the existence of nearly five global players, according to him.
Narasimhan said, “The turbocharger castings will be primarily for the US & European markets. The castings are supposed to tolerate very high temperature”.
When asked about the site of the turbocharger casting facility, he said it will be housed at the company’s existing factory in Sholingar, which is approximately 115 km from here.
The company is also setting up to have a machining unit in the US to meet the local value addition norms.
To serve the overseas market, Brakes India’s subsidiary has a foundry unit in Salalah in Sultanate of Oman.
According to him, the Indian foundry industry exports about $2.7 billion worth of castings & an additional $2.5 billion in finished components.