Italy-based Maschio Gaspardo Group, which specialises in agricultural machinery, today said it will invest Rs 300 crore in its manufacturing facility Maschio Gaspardo India Pvt Ltd (MGIPL) at Ranjangaon near Pune.
"Maschio Gaspardo Group plans to invest Rs 300 crore in MGIPL till 2017 to expand production capabilities for rotary tillers, power harrows, precision planters, cereal seed drills, combination cultivator-drills, mulchers, sprayers and minimum tillage equipment in India," its Vice President Andrea Maschio said in a statement.
MGIPL's manufacturing plant in India, with 20,000 units per annum capacity, has produced 10,000 machines in the first year. It intends to produce 30,000 machines in 2014 for the domestic market.
MGIPL manufactures products for Mahindra & Mahindra and New Holland India. Plans are underway to serve the needs of the MG Group's other global customers by providing local supply to their Asia Pacific facilities, and also to double the headcount in India, the release said.
Riulini Alessio, Managing Director, Maschio Gaspardo India, said: "Through our Indian operations, the Maschio Gasparado Group is looking forward to work very closely with the farmers by developing own dealers network across India very soon.
"We have studied all the regions, agronomy, farming practices of India at micro level & ready to launch suitable crop-wise products for India market for soil preparation, seeding crop care, and post harvesting."
