Cummins India on Friday inaugurated three plants at its Phaltan, Pune, 'megasite'. The company has invested Rs500 crore in these plants. The 300-acre project qualifies as a 'mega project' under Maharashtra government norms.
Half of the acreage is set up as a domestic tariff area and the other half as a special economic zone (SEZ) for exports, the company said in a press release.
The first three plants that were launched on Friday were Tata Cummins' second manufacturing facility producing engines for commercial vehicles, power generation and industrial markets, an engine rebuild centre and a reconditioning facility for remanufacturing engines and components.
According to Tim Solso, chairman and chief executive officer, Cummins Inc, ''The concept of co-locating our businesses at a common campus offers the advantage of scale and greater synergy to our operations. We believe a project of the scale of the megasite involving investments of about $300 million spanning the next few years, is a demonstration of our commitment to further strengthen our long and valued association with India.''
Anant Talaulicar, managing director of the Cummins Group in India, said, ''We have significantly and profitably grown our businesses in India over the last few years and we expect this positive trend to continue in future.''
Over the last few years, the Cummins Group in India has been executing an aggressive growth plan involving all nine affiliated companies. The second Tata Cummins plant, The Cummins India rebuild centre for high horsepower engines and Cummins Technologies India's ReCon plant are the first of several forthcoming projects to come up at the megasite.