Kolkata, Dec 7 (PTI) Tractor India Pvt Ltd (TIPL)would set up an underground mining equipment manufacturingplant in Asansol at an investment of Rs 120 crore, a companyofficial said today.
The facility would come up on 10 acres of companyland, said Sunil K Chaturvedi, CMD of TIPL.
He said TIPL, which has been a dealer of Caterpillar'searth moving equipment, would also manufacture the machineunder its own brand using Caterpillar technology.
Chaturvedi said Caterpillar had in recent timesstopped making these machines.
The factory would start commercial operations from theJuly-September quarter next fiscal.
He said the company would cater to the markets ofAustralia, Russia and Europe, besides India.
Chaturvedi TIPL would source its components fromabroad and within the country, adding, that the productionvolume would be two to three per year.
"These are very expensive machines each costing aroundRs 90 crore and could reach the height of a three-storeyedbuilding," he told reporters on the sidelines of Infocom 2017here. PTI DCRBT.
This is unedited, unformatted feed from the Press Trust of India wire.