Volvo Construction Equipment today said it has invested Rs 90 crore in its facility here for the production of excavators.
This is part of the company's objective of supporting customers in the growing BRIC (Brazil, Russia, India & China) markets, it said in a statement.
The investment would allow the company to produce medium-sized excavators at the plant. These machines would primarily be models for use in the Indian market.
Mrityunjaya (Jay) Singh, managing director of Volvo India, said: "Volvo Construction Equipment in India currently manufactures road machinery and this new investment will help us in expanding our manufacturing footprint by adding indigenously built excavators to cater to the steeply developing market."
Production of the machines is expected to start by the end of 2011, the statement said.