TIL, the Kolkata-based construction equipment maker, has revived the Rs 180 crore plan to set up a second factory at Kharagpur in West Bengal. The investment intent also includes a land cost of Rs 50 crore.
The factory will manufacture a new range of high tonnage mobile cranes that are witnessing high demand worldwide. The plan was actually taken in 2009 as part of a wider expansion project. But the economic downturn forced the company to postpone the crane project.
The construction work is expected to begin soon and the project will be financed through sale of land assets in Uttar Pradesh, which was previously used for Caterpillar business.
The new factory will not only meet domestic demand as the technology partner will source a part of the production to meet demands from West Asia and South Asia.