As part of its plan to expand in the growing BRIC (Brazil, Russia, India & China) markets, Volvo Construction Equipment has announced a strategic investment in its existing facility in Bangalore.
It will invest SEK 144 million or Rs 86 crore to produce medium-sized excavators. These machines will primarily be models for use in the Indian market. Eberhard Wedekind, president of Volvo Construction Equipment’s Region Asia says, “This investment will allow Volvo Construction Equipment to fulfil the needs of customers in the large Indian market much more effectively than we could do in the past.”
Production of the first machines is expected to commence by end-2011.