Tuesday, Apr 23, 2024 | Last Update : 08:49 PM IST
JCB to invest Rs 650 crore for sixth factory
The new factory, the company's sixth in the country, would manufacture parts for global production lines.
Pune: JCB, the UK-headquartered earthmoving and construction equipment firm, on Tuesday said it will invest Rs 650 crore to set up a new manufacturing facility in Vadodara in Gujarat.
The new factory, the company's sixth in the country, would manufacture parts for global production lines.
India is JCB's biggest single market since 2007. The new factory is expected to start commercial production next year. The announcement follows the start of the work on a new 50 million pound (around Rs 450 crore) factory to build cabs for JCB machines in Uttoxeter, Staffordshire, UK which will be completed later this year.
"With major investment in manufacturing capacity in the UK and India, we are very well placed to grow our business in the future," Lord Bamford, chairman at JCB said in a statement.
This year JCB celebrates 40 years of its operation in India. JCB India already has five factories in Delhi, Pune and Jaipur.
"Vadodara presents us with the advantage of being located close to the Surat port and also to our key suppliers," Vipin Sondhi, Managing director and CEO at JCB India, said.
