New Delhi : Auto components maker Advik on Feb 8 said it will set up a new plant in Maharashtra at an investment of Rs 35 crore as part of the company's plans to foray into the four-wheeler products segment.

"Our facility for four-wheeler components will come up at Chakan (Maharashtra) with an investment of Rs 35 crore and it will have an annual installed capacity of five lakh units of oil pumps and tensioners," Advik Group of Companies Managing Director Aditya Bhartia told. The auto parts maker is operational in the two-wheeler segment and now wants to focus on India's booming car market.

"We already have a fair presence in the two-wheeler market and our foray into the four-wheeler segment is intended to tap the growing car market and its demands," Bhartia said. The work on the facility will start by April 2010 and the project will be completed within 12 months, he said. The company is also investing Rs 15 crore in capacity expansion for two-wheeler components, including setting up of a new plant and upgrading its two existing facilities. Its two facilities at Chakan and Pantnagar (Uttarakhand) have an annual installed capacity of 1.3 crore units.