XCMG, a China based construction machinery company intends to invest Rs 15 crore in a new manufacturing unit in India.
The plant will manufacture construction and material handling machines.
For the proposed venture, the company will partner with Schwing Stetter India, a ready-mix concrete equipment company, to use the latter’s facilities and resources to build its business in India.
Presently the company is in the process of finalizing the location for the new plant.