Kolkata(IANS): Construction and mining equipment maker Tata Hitachi is planning to invest Rs 250 crore over the next two years in its two plants at West Bengal’s Kharagpur and Karnataka’s Dharwad, an official said on Wednesday.
“We are looking to invest Rs 250 crore over next two years in our Kharagpur and Dharwad plants. The investments amount would be shared between these two plants,” Company’s Managing Director Sandeep Singh said.
In a strategy to sustain the business and remain market leader in excavators, the equipment major is focusing on selling of refurbished products as this market is developing in India, he said on the sidelines of the Global Mining Summit organised by CII.
Tata Hitachi is a subsidiary company of Hitachi Construction Machinery Co Ltd, which holds 60 per cent share and Tata Motors Ltd 40 per cent.
Singh said the margin of the company was “under stress” this year because volatility of forex, increasing material cost.
The manufacturing company is expanding its products and exploring to localise high-tonnage excavators which are currently imported.