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16. May 2010

Volvo invests INR 90 crore in Bangalore facility

Volvo Construction Equipment said that it has invested INR 90 crore in its facility here for the production of excavators.

Volvo Construction in a statement said that this is part of the company's objective of supporting customers in the growing BRIC markets.

It added that the investment would allow the company to produce medium-sized excavators at the plant. These machines would primarily be models for use in the Indian market.

Mr Mrityunjaya Singh MD of Volvo India Pvt Ltd said that "Volvo Construction Equipment in India currently manufactures road machinery and this new investment will help us in expanding our manufacturing footprint by adding indigenously built excavators to cater to the steeply developing market.”

The statement added production of the machines is expected to start by the end of 2011.

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