Tractors and Farm Equipment (TAFE) has planned an investment of about Rs 500 crore in the expansion of farm equipment and generator businesses. The company signed a memorandum of understanding (MoU) with the Tamil Nadu government at the Global Investors Meet (GIM) 2024.

The Chennai-headquartered company has proposed to expand its Farm Equipment Division to make an advanced range of farm equipment for a wide variety of crops suited to both Indian and international markets. The company has been exporting tractors to more than 80 countries across the world including Europe and America. 

Additionally, TAFE proposes investment to enhance its facility for the assembly and export of silent generators to various countries in the Middle East and Africa.

The 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.