TAFE commits to invest ₹500 cr. in TN towards expansion
The Hindu
TAFE commits ₹500 crore investment in Tamil Nadu to produce advanced farm equipment for domestic and international markets.
Tractors and Farm Equipment Ltd. (TAFE) has committed to invest ₹500 crore in Tamil Nadu to produce an advanced range of farm equipment for a wide variety of crops.
TAFE proposes to expand its farm equipment division to produce an advanced range of farm equipment for a wide variety of crops ideally suited for both Indian and international markets, the ₹12,000-crore tractor major said in a statement.
In addition, TAFE proposed investments to enhance its facility for the assembly and export of silent generators to various countries in Central Asia and Africa. Besides, the company said it plans to establish a state-of-the-art design and development facility in Tamil Nadu.
The leading tractor manufacturer recently entered into a MoU with the State Government at the Global Investors Meet 2024 held in Chennai.
“TAFE is keen to leverage the vibrant ecosystem of Tamil Nadu and work closely with the Tamil Nadu Government as it invests in new growth opportunities,” said CMD Mallika Srinivasan.
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