Comments
Tractors and Farm Equipment Ltd (TAFE), a leading tractor maker, has planned an investment of about ₹500 crore in the expansion of farm equipment and generator businesses.
It signed a memorandum of understanding with the Tamil Nadu government of Tamil Nadu at the GIM 2024 here.
The Chennai-headquartered company has proposed to expand its Farm Equipment Division to produce an advanced range of farm equipment for a wide variety of crops ideally suited for both Indian and international markets.
The company has been exporting tractors to more than 80 countries across the world including nations Europe and the Americas.
In addition, TAFE proposes investment to enhance its facility for the assembly and export of Silent Generators to various countries in the Middle East and Africa, according to a statement.
The ₹12,000-crore plus company also plans to establish a design and development facility in Tamil Nadu.
“TAFE is keen to leverage the vibrant ecosystem of Tamil Nadu and work closely with the Tamil Nadu government as it invests in new growth opportunities,” Mallika Srinivasan, Chairman and Managing Director, TAFE, said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.