NEW DELHI: Escorts Ltd. and Kubota Corporation laid the foundation stone for Escorts Kubota India’s manufacturing plant on Escorts land in Faridabad.
Marking the formal beginning of the project, the ceremony was attended by the management teams of both companies.
Escorts Kubota India plant will manufacture advance technology tractors to cater to Indian and overseas market. The initial investment for the new plant would be Rs. 300 crores. The plant will have a capacity of 50,000 tractors in the initial phase. Spread across 7 acres, the new unit would be operational from June 2020.
The newly formed company will leverage leading Japanese technology from Kubota and Indian engineering excellence of Escorts to manufacture tractors for attaining global leadership position. This 60:40 manufacturing joint venture between Kubota and Escorts respectively will benefit both partners in expanding their presence in domestic and global markets.
The agreement on the joint venture was signed by Nikhil Nanda, Chairman and Managing Director, Escorts Limited and Masatoshi Kimata, President and Representative Director, Kubota Corporation, Japan in December 2018.
