New Delhi: Action Construction Equipment (ACE) on Thursday announced an investment of Rs 200 crore in a joint venture with Japan-based KATO Works Co. Ltd to manufacture high-capacity cranes in India.
In a statement, ACE said ACE KATO Pvt. Ltd – the 50:50 joint venture between ACE and KATO Works – will manufacture high-capacity cranes in India for domestic and global markets.
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The joint venture has established an 11-acre manufacturing facility in Haryana with a planned investment of approximately Rs 200 crore, the construction equipment manufacturing company said.
The facility will manufacture truck cranes, crawler cranes and rough-terrain cranes, catering to infrastructure, transportation, mining, ports, energy, metro rail, industrial and other heavy-duty applications.
“By partnering with KATO, we are combining globally proven Japanese technology with India’s manufacturing strengths to create a world-class platform for high-capacity crane manufacturing,” said Sorab Agarwal, Executive Director, ACE.
Homegrown Action Construction Equipment and the Tokyo-headquartered entity had earlier entered into an agreement to form a joint venture entity for investments in India.
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Tomoyasu Kato, Director, KATO Works Co Ltd, said the JV represents a significant step in advancing India’s high-capacity crane manufacturing capabilities by bringing together Japanese engineering, indigenous manufacturing and progressive localisation under a single manufacturing platform.
"ACE KATO Pvt. Ltd is well positioned to support the next phase of infrastructure development while enhancing India's role in the global construction equipment value chain," Kato said.
Action Construction Equipment Ltd is among India's leading material handling and construction equipment manufacturing companies, with a presence in over 42 countries.
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