Diesel engine manufacturer Cummins will invest Rs 850 crore to start three plants at Phaltan in Satara district for manufacturing truck and bus engines, diesel and gas gensets and diesel engines.
THE PLAN
A unit for manufacturing B series of bus and truck engines will be established at an investment of Rs 400 crore
A plant for diesel and gas gensets will come up for Rs 250 crore
Cummins' fully owned subsidiary will start a diesel engine production unit at a cost of Rs 200 crore |
The memorandum of understanding was signed by Cummins India's Chairman and Managing Director Anant Talaulicar and Maharashtra's Industry Secretary VK Jairath. Chief Minister Vilasrao Deshmukh was present at the function. | |
| The unit for manufacturing B series of bus and truck engines will be a joint venture between the Tatas and Cummins to be known as Tata Cummins (TCL). TCL will invest Rs 400 crore in the plant and provide direct and indirect employment to 300 persons. The first engine is expected to be rolled out by the middle of next year. |
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| A plant for diesel and gas gensets is likely to be set up at an investment of Rs 250 crore and will offer jobs to 250 people. |
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| Cummins' fully owned subsidiary Cummins Turbo Technologies will start a diesel engine production unit at a cost of Rs 200 crore which will provide employment to 200 people. |
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| Speaking to the media, Talaulicar said, "Although the company has a base in Pune, which is not far from Phaltan and where it is very easy to find skilled manpower, it will provide maximum employment to the locals and upgrade the regional ITI". |
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| Once the company sets up units at Phaltan, many of its vendors will shift base to the area and this will create additional job opportunities for the locals, he added. |
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| Replying to question, he said, "Tatas will be the equity holder and major customer of TCL, while Cummins will be the managing partner". However, he refused to provide any details about the shareholding pattern. |
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