The Escorts Group, the farm and construction equipment maker, is setting up a joint venture (JV) with Japan’s Tadano to produce rough terrain and truck mounted cranes in the country. The Tadano will hold 51 percent stake in the JV while the Escorts Group will hold 49 percent stake.
The JV will cater to an expanding market in the 20-80 tonnage category. The new JV is a step towards catering to market demand for smarter, safer and bigger mechanised infrastructure solutions in the higher tonnage category. Production is expected to commence at Faridabad, Haryana in Q3/FY19.
The JV will initially focus on the domestic market and later will look at exporting to other markets. The rough terrain and truck mounted cranes cater to big construction companies servicing oil refineries, metro rail projects, smart city construction, solar power projects and ports, among others.