TAFE Tractors invests Rs 500 crore in Tamil Nadu
Published on: 13-Jan-2024
Machinery
Tractor Blog
TAFE has recently signed an MoU with the state government to invest Rs 500 crore in Tamil Nadu. The company said it will utilize the investment to expand its manufacturing facility for assembly and export of 'silent generators' besides expanding the farm equipment division.
TAFE i.e. Tractors and Farm Equipment Limited on Monday signed an MoU with the state government to invest Rs 500 crore in Tamil Nadu. The company says the investment will be used to expand its manufacturing facility for assembly and export of 'silent generators' in addition to expanding the farm equipment division.
It was proposed to expand the agricultural machinery division.
On the second day of the Global Investors Meet 2024 organized by the DMK government, the company officials exchanged documents with the government in the presence of Chief Minister MK Stalin, and Industries Minister TRB Raja.
TAFE company said in their statement, “Tractors and Farm Equipment Limited proposes to expand its Farm Equipment division to produce an advanced range of farm equipment for a variety of crops suitable for the Indian and international markets.”
Also read: TAFE 9502 4WD: 90 HP tractor is known for its special features
Investment will also be made in silent generators
For your information, the Limited has further submitted that it intends to invest its facility for assembly and export of ‘Silent Generators’ for the Middle East and African markets. Let us tell you, that TAFE also plans to set up a state-of-the-art design and development facility in Tamil Nadu.
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