Tata Motors, Hitachi enter JV for $53.5-mn plant

Telco Construction Equipment Co, a 60:40 joint venture, will set up the plant for Rs 2.5 billion in Kharagpur.

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.

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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.