ITL to upgrade capacity; invests Rs 75 cr in Punjab plant

New Delhi, Aug 10 (UNI) Delhi-based International Tractors Ltd (ITL) today said it has earmarked about Rs 75 crore for capacity expansion of its plant at Hoshiarpur in Punjab.

''Our current capacity is 40,000, which we expect to get doubled once the expansion is complete over the next one year,'' ITL Vice President (Finance and HRD) K N Vigg told UNI here.

The company has invested over Rs 75 crore for the expansion, he added.

ITL is also mulling to set up another manufacturing plant.

''We are looking at opportunities for setting up a plant. As soon as something worthwhile comes up, we will take it up''.

The company has a turnover of Rs 1,300 crore and is the fourth largest tractor maker of the country.

UNI