Amul Industries, part of the Amul Group of Companies is planning to form a JV with the Escorts Group to manufacture mini tractors.
An MoU has been signed with this effect, a new company named Adico Escorts, is likely to be formed. Amul is likely to hold majority stake in the proposed venture. The total investment will be around Rs 100 crore, wherein Amul is likely to invest Rs 20-30 crore in the project, planned at Rajkot in Gujarat. Initially, JV will manufacture 300 tractors per month, for which production is likely to commence in December 2011, expanded to 800 tractors per month by 2015.
Related Links:
Project profile