JaideepShekhar, Managing Director of Terex India Private Limited, a subsidiary of the global manufacturer of lifting and material processing products Terex Corporation said that the company plans to add 15 acres of land to its current factory over the coming months in order to increase its production capacity in response to the demand momentum and anticipates making $1100 crore in revenue in calendar year ’23.
A phase of expansion is currently taking place at its industrial base in Hosur, Tamil Nadu, which is situated on 30 acres of land.
Shekhar said, “There is a sizeable demand in the currently booming construction market. Another 15 acres will be added to the existing facility over the next few quarters. The company will spend close to ₹30 crore on the new expansion.”
