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Rane to set up unit in Singur

NEW DELHI: Rane NSK Steering System plans to set up a new plant in Singur with an investment of Rs. 20 crore in the next one year to supply some parts for the Tata’s Rs. 1-lakh car, Nano.

“To supply parts to the Tatas for the Nano car, we are setting up a manufacturing plant in Singur with an investment of Rs. 20 crore,” Rane NSK Steering System President, R. Narayanan, told reporters here on Thursday.

Five parts that the company would supply to Tata Motors for Nano include manual steering gear, engine valves and seat belts. Initially, these parts would be supplied from the company’s existing facilities. For its Singur unit, the company had already acquired five acres.

The company had also commissioned its plant in Bawal in Haryana to manufacture electric power steering systems for vehicle manufacturers in North India. The plant had a capacity of two lakh steering systems, L. Ganesh, Chairman, Rane Group, said after the inauguration of the plant in the presence of M. Degawa, Director and Executive Vice-President of NSK, Japan.

They said that the company would target sales revenue of Rs. 200 crore by 2010-11. It would also cater to the overseas markets.

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