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Home arrow News arrow New Project news arrow Sonalika to set up Rs 250 crore tractor unit near Patna in Bihar
Sonalika to set up Rs 250 crore tractor unit near Patna in Bihar Print E-mail
Written by Jeeva   
Thursday, 17 January 2008
Chandigarh: Sonalika Group, one of the top 5 tractor manufacturers in India , plans to invest Rs 250 crore to set up a unit that will roll out 40,000 tractors and 8,000-10,000 agriculture implements a year.

The group aims to strenghten its presence in the eastern Indian states of Bihar, Orissa and West Bengal. The new facility,located near Patna in  Bihar, is slated to become operational in one year.

The group has a strong presence in Punjab and Himachal Pradesh and its tractor manufacturing arm, International Tractors Ltd, has a market share of 11 per cent.With plans to become the market leader in the next 3 to 5 years, the group will double the capacity of its current facility in Hoshiarpur to 80,000 units a year.

International Tractors Ltd or ITL as it is popularly known aims to increase its current turnover of Rs 1,300 crore to Rs 1,500 crore by the end of 2008. The group currently exports tractors to South Africa, Zimbabwe, France, Australia, Sri Lanka, and Bangladesh. They have begun their foray into the American tractor market  with hobby tractors, which are low-powered tractors with 40-45 HP, used for gardening.

The Sonalika Group has set up a Rs 200-crore plant,International Cars and Motors Ltd (ICML), in Himachal Pradesh for manufacturing the MUVs in technological collaboration with MG Rover of the UK. It recently unveiled its two-litre multi-utility vehicle (MUV) `Rhino' with an entry-price of Rs 5.45 lakh.  The group's auto finance company, International Autotrac Finance Ltd (IAFL) will finance vehicles produced by International Tractors Ltd (Sonalika brand tractor) & International Cars & Motors Ltd.

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