Shares of Escorts Kubota ended 2.9 per cent higher at ₹3,629.65 on the BSE.
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Escorts Kubota Ltd on Wednesday announced plans to invest up to ₹2,000 crore by 2031 to expand its manufacturing and research facilities in Haryana, focusing on agriculture and construction equipment sectors.
The announcement was made during a meeting between Chairman and Managing Director Nikhil Nanda, Kubota Corp Executive Vice Chairman Shingo Hanada and Haryana Chief Minister Nayab Singh Saini, along with other state officials, during their visit to the Kubota plant in Osaka, Japan, the company said in an exchange filing.
The investment will be directed towards strengthening the existing production capacity and R&D infrastructure in Haryana, the company added.
Escorts Kubota, based in Faridabad, Haryana, manufactures tractors, construction machinery and railway equipment. The Japanese company Kubota Corporation owns a majority stake in the company.
Shares of Escorts Kubota ended 2.9 per cent higher at ₹3,629.65 on the BSE.
