Tractor and construction equipment maker Escorts is planning a capital expenditure (capex) of ₹225-250 crore this fiscal in view of some favourable business prospects.
The company will be spending the proposed capex on new product development, and capacity addition in the machining division, which is meant for both Escorts and its JV with Japan’s Kubota Corporation, the company management said during the Q1 earnings conference call.
Upbeat on Bharat
The 40:60 JV between Escorts and Kubota is meant for producing premium tractors and a new manufacturing unit is being set up with an initial capacity of 50,000 ...
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