Tata Motors, Hitachi enter JV for $53.5-mn plant
Tata Motors Ltd said on Thursday that its construction equipment joint venture company with Hitachi Construction Machinery Co Ltd is setting up a new manufacturing plant.
Telco Construction Equipment Co, a 60:40 joint venture of Tata Motors and Hitachi, will set up the plant at a cost of Rs 2.5 billion ($53.5 million) in Kharagpur.
The plant, which will begin operations by March 2008, will also have additional facilities for a vendor park, according to a statement. It will supply domestic and overseas demand.
Telco already has two manufacturing plants in India in Jharkhand state and Karnataka.