Brakes India will invest $70 million in Mexican ferrous foundry plant

29 February, 2024 by

Brakes India, based in Chennai, India, announced the investment of $70 million for the construction and equipment of a ferrous foundry plant in the central Mexican state of Aguascalientes, the state government reported in a statement.

"Brakes India announced an investment of $70 million and the generation of 700 new jobs for the creation of a smelting plant in Aguascalientes," said state governor María Teresa Jiménez Esquivel, according to the press release. 

Brakes India is a supplier of brake systems in the Indian market and a global supplier of ferrous parts for light and heavy vehicles. 

The operation of the plant could begin in 2026, according to information from the state government. At the meeting with the governor of Aguascalientes, Jiménez, was the president and founder of Brakes India, Surya Prakash. 

Separately, the head of the Secretariat of Economic Development of Aguascalientes, Esau Garza de Vega, reported that the Mexican metal stamping company for the automotive industry Metalistik will invest $2 million for the expansion of its production plant with the generation of up to 50 new jobs. 

Data from the business chamber Industria Nacional de Autopartes (INA) shows that Aguascalientes is the ninth largest producer of auto parts in Mexico with a production of $4.9 billion in the January-November period. In that same period, Mexico manufactured $111.5 billion, making the country the fourth largest producer of auto parts in the world and the largest supplier to the United States.

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