Tata Hitachi Construction Machinery Co, a 60:40 joint venture of Tata Motors and Hitachi Construction Machinery, formerly known as Telcon, is aiming to make its plant at Kharagpur in West Bengal an export hub for cost-effective construction equipment for developing markets across the globe, the company said today.
''Currently we are exporting around two per cent of our total production or around 300 units annually. The Kharagpur plant (in Midnapore distirict) would be the export hub for the neighbouring countries like Bangladesh, Nepal and Sri Lanka and other developing regions like Africa and the Middle East,'' Mitsuhiro Tabei, vice-president and chief executive officer of Hitachi Construction Machinery Co of Japan, said.
The Rs3,000-crore company is also eyeing Rs5,500 crore revenue within the next five years.
The company is also looking to increase its export to 15 per cent from the current 2-3 per cent of its total business within the same period.
The Kharagpur plant is operating at just 35 per cent capacity due to a slowdown in the construction equipment market, and is hoping for better capacity utilisation if export of low cost equipment picks up.
''This plant will be the factory to the world,'' Tata Hitachi managing director Rana Sinha said at the unveiling of company's new name.