Automotive components manufacturer Magna Powertrain is planning to invest $11.5m in its Muncie, Indiana manufacturing plant in the US.
The amount will be used for expansion of operations of the plant by adding equipment for a new automotive component manufacturing and new assembly line to the existing facility.
Expansion of the 200,000sqft plant, which is expected to be completed by 2014, will facilitate the new business from the automobile manufacturer General Motors.
Magna Powertrain Metal-Forming Solutions vice president Tom Rucker said, "Through our continued investment, combined with the support from our business and municipal partners, we will continue to increase our competitive advantage and execute our plan for sustained growth."
Magna Powertrain operates two facilities in Muncie, producing about 35,000 drivetrain components per day for the global automotive industry.
