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Our Bureau

Mumbai, March 26

Darby Overseas Investments Ltd, the private equity arm of Franklin Templeton Investments, has invested Rs 75 crore in Escorts Construction Equipment Ltd (ECEL) through an affiliate of Darby Asia Mezzanine Fund II.

ECEL is a wholly owned subsidiary of Escorts. "We were attracted to ECEL because of its pole position within India's rapidly expanding construction equipment sector," said Mr Richard H. Frank, CEO of Darby. "We are aptly poised at a very significant growth opportunity of the decade," said Mr Rajan Nanda, Chairman of Escorts.

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