This is really good news for Telangana. Mahindra & Mahindra which has the largest tractor manufacturing facility in Zaheerabad, has announced an additional investment of Rs 100 Crore. Mahindra said it will use the additional investment to build its K2 series tractors in collaboration with Japan’s Mitsubishi to develop lightweight ones. The K2 series tractors will be sold in domestic markets as well as international markets such as the US, Japan and Southeast Asia. The company says it has the potential to make about thirty-seven different models through this K2 series.
A great milestone in the field of manufacturing
Industries Minister K Taraka Rama Rao welcomed the additional investment announced by the Mahindra Group. On behalf of the Telangana government, the Minister thanked the Mahindra Group for the new investment. Minister KTR said the tractors, to be manufactured in Zaheerabad in partnership with Mitsubishi and Mahindra, would be a major milestone in the manufacturing sector not only for Telangana but also for the country. KTR is happy that tens of thousands of new investments are coming to Telangana and companies already operating in Telangana are also expanding their investments in view of the business potential and opportunities here. The companies operating here are expected to make additional investments to show their confidence in Telangana, Mahindra said in a statement today.
Opportunity to manufacture innovative products
Mahindra Group Executive Director Rajesh Jejurikar said, “Mahindra Group is already the largest seller of tractors and has the potential to make more innovative products with the launch of the K2 series.” The tractors will be made on par to meet local and international market standards. The project will create more jobs for locals at their Zaheerabad plant in Telangana. He said the plant was already receiving special support from the Telangana government.
Employment for another 1500 people
Established in 2012, the Zaheerabad Mahindra plant is already the largest manufacturer of tractors. Already 1500 workers are working here. With this new investment additional 1500 jobs are likely to come. Mahindra produces one lakh tractors from Zaheerabad every year.
