Minda Industries Limited has informed that the board of directors of the company at its meeting approved the investment for setting up a new manufacturing plant of controller and telematics for 2W and 4W in Pune, Maharashtra, for supplies to OEMs. The outlay of the project is approved for Rs. 76.52 Crores. It will be the business division of Minda Industries Limited and will operate in tandem with i-SYS to maximize synergies. The start of production is expected by Q3, 2019-20.