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Wheels India on Monday said it has signed a technical assistance agreement with Japan's Topy Industries for design, development and manufacture of aluminium alloy wheels. Topy will provide technical knowhow and engineering support to enhance Wheels India's design and manufacturing capabilities for cast aluminium wheel business under the agreement, the company said in a statement. "This agreement is expected to bring in considerable technical expertise in the aluminium wheel segment for Wheels India. We are confident that this agreement will also help us win new businesses and bolster our competitive advantage in the cast aluminium segment," Wheels India Managing Director Srivats Ram said. Topy Industries is an over 100-year-old globally renowned wheel manufacturer. They are a leading manufacturer of aluminium wheels with cutting-edge technologies, he noted. Srivats further said,"Through this agreement, we are hoping to make fresh inroads into the Japanese OEMs in India in the allo
Anil Agarwal-led Vedanta Ltd plans to pump in Rs 13,226 crore to ramp up its aluminium capacity to 3.1 million tonnes per annum (MTPA) by FY28, sources said. The current capacity of the company is 2.4 MTPA. Vedanta Ltd is anchoring aluminium at the centre of its growth strategy, with an expansion plan that will take capacity to 3.1 million tonnes per annum (MTPA) by FY28, sources said. The company is planning to invest Rs 13,226 crore over the next few years for this expansion, they said. Aluminium, the world's second-most consumed metal after steel, is becoming increasingly critical to electric mobility, renewable energy, urban infrastructure, and aerospace. Vedanta, the country's leading aluminium producer with over 50 per cent share in domestic market, is also set to ensure aluminium remains the single biggest contributor to its target of 8-10 billion dollar EBITDA at group level by FY28, as per its recent exchange filing. Vedanta's aluminium capacity will expand to 2.75 MTPA