Sakthi Automotive plans USD31.9 million investment to expand US operations
Investment includes a new aluminium foundry to support auto industry initiatives to reduce the weight of vehicles
India-based Sakthi Automotive Group plans to invest USD31.9 million in expanding its facilities in Detroit, Michigan, United States, reports the Detroit News. The components supplier currently employs 200 staff in Detroit and the planned investment includes a new aluminium foundry to support auto industry initiatives to reduce the weight of vehicles; the purchase and conversion of an area high school into a manufacturing, advanced worker training, and employee wellness centre; and the development of two other buildings for additional manufacturing and machining operations. The Michigan Strategic Fund (MSF) has awarded Sakthi a USD3.5-million performance grant, reports the Detroit News. The MSF said that Sakthi chose the grant over offers of free land, training grants, and low-interest construction loans offered by other US states.
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