Murugappa Group’s Chola inks deal to finance construction equipment of JCB India

By: |
New Delhi | December 13, 2017 6:02 PM

Cholamandalam, a Murugappa Group firm, said today that it will finance earthmoving and construction equipment for JCB India's customers.

Cholamandalam, chola, Murugappa Group, JCB India Cholamandalam, a Murugappa Group firm, said today that it will finance earthmoving and construction equipment for JCB India’s customers.

Cholamandalam, a Murugappa Group firm, said today that it will finance earthmoving and construction equipment for JCB India’s customers. Announcing the tie-up between the two companies, Cholamandalam Investment and Finance Company (Chola) said that as part of the agreement, it will finance JCB’s entire range of construction equipment and machinery. It will also customise the products and offerings to suit the needs of JCB customers, Chola said in a statement. “India is today witnessing massive development wherein the infrastructure sector is a key driver for the Indian economy…this alliance is also in line with our continuous endeavour in enabling our customers to enter a better life,” said N Srinivasan, Executive Vice Chairman and Managing Director, Chola. Managing Director and CEO of JCB India, Vipin Sondhi said: “JCB India is a full range infrastructure equipment partner and together we will explore opportunities of growth in the construction equipment sector in the country.” A fully owned subsidiary of UK-based JC Bamford Excavators, JCB India has five state-of-the-art factories in the county and manufactures over 50 products in 8 product categories. Chola with assets under management of Rs 35,000 crore and 725 branches across India offers financial services such as vehicle finance, home loans, home equity loans, SME loans and investment advisory.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Power ministry comes out with rules to ensure sustainability of sector
2Gaming on the OnePlus 9R: As Cool as it Gets
3Alder Lake is the high-performance hybrid Formula 1 racing car we have built for computing: Intel