New Holland Fiat India to expand its presence in the country

New Holland Fiat India,a part of Fiat Group,today said it plans to invest over Rs 1,200 crore over the next three years to expand its presence in the country.The company,which makes various equipment,including tractors and axles,also expects its turnover to nearly double by 2015,from the present of around Rs 3,000 crore.”We plan to invest around Rs 900 crore in a new manufacturing facility for tractors in Maharashtra. It will become operational by the end of 2015,” Rakesh Malhotra,Managing Director of New Holland Fiat India,told reporters here.

The company is also in the process of investing Rs 330 crore to expand the capacity of its Greater Noida facility.”We are now in the process of expanding our Greater Noida facility to 60,000 units from the current 40,000 units,” Malhotra said adding that the company would be able to enhance the production capacity of the plant by March 2014.

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The company markets various models of tractors ranging from 30 HP to 90 HP,and currently has a market share of 5.2 per cent in the Indian tractor market,which is estimated to be around 5.25 lakh units per annum.New Holland Fiat India has been operating in India since 1998,when it launched its first 75 HP category tractor in the Indian market.