Bangalore, Dec. 2
TELCO Construction Equipment Company Ltd (Telcon) plans to invest Rs 200 crore in the next two years to ramp up capacity at its plants in Jameshedpur and Dharwar while strengthening research and development.
Mr Rana Sinha, Managing Director of Telcon, told presspersons that with the construction equipment industry witnessing a steady 30-40 per cent growth, the company was gearing up to meet the anticipated growth in demand in the country.
He said growth would come from power, roads and urban construction projects. If the much-debated river linking projects take off, the demand could go up to 40-50 per cent. Mr Sinha said the presence of major international brands having their facilities and marketing arrangements in the country underlined the depth of the Indian market for construction equipment.
Telcon has set a growth target of 50 per cent for its range of machines by next fiscal.
Telcon, a joint venture of Tata Motors Ltd and Hitachi Construction Machinery Co Ltd, Japan, launched its new excavators ZAXIS 120H and ZAXIS 450H at Excon, an exhibition organised by the construction equipment industry. The Tata-Hitachi Zaxis Series is the latest in construction equipment technology, combined with microprocessor controls and information technology.
Telcon, with an installed capacity of over 5,000 machines per annum at its two plants, had achieved revenues of Rs 930 crore in 2004-05.