Ashok Leyland Ltd said on Tuesday that it had formed a joint venture with Finland's Alteams to make components for the telecommunication and automotive sectors.
The equal joint venture, subject to regulatory approvals, will commence in 2007, with an initial investment of more than Rs 175 crore ($43 million), the company said.
The joint venture to make high-pressure die casting aluminium products will achieve revenues of Rs 650 crore in five to six years, when total investment will add up to Rs 335 crore, it said in a statement.
(Source: Business Line )
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