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MACHINIST - Telcon to set up new plant in West Bengal

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Telcon to set up new plant in West Bengal
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Written by Arjun   
Saturday, 15 December 2007

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Kolkata: Telco Construction Equipment Co. Ltd. (Telcon), a joint venture of Tata Motors and Hitachi Construction Machinery Co. Ltd (Japan), today announced a state-of-the-art manufacturing facility for earthmoving and construction equipment along with a Research & Development Centre at Kharagpur in West Bengal to upgrade its capacity and capability to meet the burgeoning demand for construction equipment in the country. The construction of the facility will commence shortly.
The Telcon Managing Director, Mr. Ranaveer Sinha, and the Managing Director of the West Bengal Industrial Development Corporation (WBIDC), Mr. M.V. Rao, today signed a lease agreement for 250 acres of land for setting up the facility. Mr. Nirupam Sen, West Bengal's Minister for Commerce & Industry, and Dr. Sabyasachi Sen, Principal Secretary, Department of Commerce & Industry, were present on the occasion.

Telcon will invest about Rs.600 crores in the facility, to be completed in three phases. The first phase will be completed by March 2009, and the final phase by March 2011. In addition, a vendor park will be set up on a 90-acre plot for about 20 strategic partners, who will separately invest about Rs.500 crores. The entire operation, including that of Telcon and its partners, is expected to generate over 1000 direct jobs.

In 2006-07, Telcon posted a Gross Revenue of Rs.1814.16 crores, and a Profit after Tax of Rs.183.86 crores. The company already has two manufacturing facilities in Jamshedpur (Jharkhand) and Dharwad (Karnataka)
 
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