Tata Hitachi Construction Machinery would invest Rs 200 crore in its two manufacturing plants which would elevate standards of quality, innovation and localisation. The company, a 40:60 joint venture between Tata and Hitachi of Japan, aims at ramping up localisation levels to 70 percent in two to three years.

The investment will be for its plants in Kharagpur, West Bengal and Dharwad in Karnataka. The company plans to produce 60-tonne dump trucks in India, leveraging technology from Hitachi Canada, which is for the mining industry. Additionally, the company intends to introduce more models in India, as part of the 'Atmanirbhar' mission.

The Kharagpur plant is the largest excavator plant in South-east Asia with Rs 1,100 crore outlay. The total cumulative capital expenditure, including Dharwad, will be Rs 2,000 crore. Expecting a boost in infrastructure development, demand for equipment is expected to rise in the second half of the year.

The market size of excavators is approx. 1.25 lakh units, and the company aims at revenue growth of eight percent. In FY'24, the company achieved a revenue of around Rs 5,000 crore, with both plants operating at 75-80 percent capacity.