Wheels India, the key automotive component player is entering into power sector. It is planning to set up a 30 acre manufacturing plant in Deoli, near Nagpur in Maharashtra. Around this area, several power projects are coming up and in need of steel structural components. TVS –Wheels India will initially process 1000 tonnes of steel a month and will employ around 150 people. The plant will become operational by end of 2009.
By venturing into power sector, the company may overcome some of the downturn in auto sector and also can put a foot in construction sector steel market.