Utsav Safety in JV with German co to make hi-tech number plates

New Delhi, January 30: | Updated: Jan 31 2002, 05:30am hrs
Utsav Safety Systems has entered into a joint venture (JV) with Sievers Gmbh of Germany to manufacture high-security value registration plates in India. The company plans to invest around Rs 100 crore in this project. The German partner will hold 12 per cent stake in the joint venture.

The two companies will invest Rs 25 crore in India towards manufacturing of this new technology number plates. It will invest an additional Rs 75 to 80 crore towards setting up embossing stations at 320 Regional Transport offices across the country. Utsav Safety Systems director Ravi Somani told newspersons We have entered into this joint venture to provide high security number plates to vehicle owners in the country.