While finalising its plans to establish a greenfield facility, tractor manufacturer Escorts Kubota is planning a “normal capex” of roughly 350 crore for the new fiscal year 2023–2024.
Top Escorts Kubota officials claim that although nothing has been decided upon yet, negotiations are now underway with four states, including Tamil Nadu, for the greenfield location.
Kubota is escorted by Bharat Madan, a full-time director and CFO. “The amount we invest on the greenfield project will vary depending on the state we choose. We are currently in talks with all of the four states we have shortlisted—Tamil Nadu, Maharashtra, Gujarat, and Rajasthan,” he said.
He explained that the greenfield investment would be in addition to the regular capex planned for FY24. Escorts Kubota spent around 240-250 crore in capex in FY23.
