Escorts firms up plans to set up a new greenfield manufacturing plant in 2 years which will have an installed capacity of 50,000 units per annum. Company officials told FE that they are scouting for land in various regions and the plans are likely to be finalised within the next 3-4 months. We will be coming up with a greenfield project. We may set up the proposed plant in the west, south or any other northern state. The investment part is also yet to be worked out, said Shenu Agarwal, head-marketing Escorts agri machinery group.
Besides, the company is infusing Rs 150 crore for expansion at its Faridabad plant by 2012. We increased our productivity by 25% last year and at present the production capacity of Faridabad plant is 75,000 units, which can be scaled upto one lakh units.