Minda Corporation said it has agreed to set up a fifty fifty joint venture with Shandong Beiqi Haihua Automobile Parts at a cost of $12.5 million.

Other details of the agreement, including the location, were not revealed. The agreement was entered via Minda German subsidary, Minda Ktsn Plastic Solutions.

It is an exporter from Germany,the company sell autoparts and related products to German market.

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