Published On:June 11 2024
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"Pavna Industries Procures Land Parcel in Pantnagar"

Pavna Industries Limited, a prominent automotive parts manufacturer listed on the National Stock Exchange (NSE: PAVNAIND) and Bombay Stock Exchange (BSE: 543915), has secured a land parcel spanning 4335 square meters at the Integrated Industrial State in Pantnagar, Uttarakhand. This acquisition marks a significant step in the company's expansion plans, as it gears up to establish a new greenfield plant dedicated to producing die-cast components.

The strategic move aims to leverage the logistical advantages and cost efficiencies offered by the Pantnagar region to bolster Pavna Industries' position in the domestic automotive sector. The company intends to optimize its operations to better serve key clients like Bajaj Auto, a major player in the industry. By tapping into supply chain synergies and minimizing overhead costs, Pavna Industries seeks to enhance its competitiveness in the market.

Pantnagar has emerged as a notable automotive hub, attracting leading companies such as Bajaj Auto Limited and Ashok Leyland. Pavna Industries' decision to set up a plant in this region aligns with its objective of expanding its customer base by catering to various original equipment manufacturers (OEMs) operating in and around Pantnagar.

Mr. Swapnil Jain, Managing Director of Pavna Industries Ltd, emphasized the significance of the acquisition, stating, "This move signifies our transition to our own premises in Uttarakhand, departing from our current rented facility. The new plant, strategically located within Pantnagar's thriving industrial ecosystem, will enable us to deliver superior service, particularly to Bajaj Auto, while also advancing our long-term goal of offering competitive prices to our customers."

He further added, "Pantnagar's favorable government policies and burgeoning industrial cluster create an environment conducive to collaboration and growth. We are optimistic about the future of the automotive industry and remain committed to supporting the 'Aatmnirbhar Bharat' initiative by manufacturing high-quality indigenous components in our state-of-the-art facilities."

Pavna Industries currently operates nine facilities across three locations – Aligarh, Aurangabad, and Pantnagar – along with a strategically positioned distribution network spanning 17 states.

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