MUMBAI -- India's Tata Motors Ltd. said on Thursday 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 2.5 billion rupees ($53.5 million) in Kharagpur in eastern India.
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 the eastern Jharkhand state and southern Karnataka state.