BOMBAY (PTI): Tata Engineering and Locomotive Company Limited of India (TELCO) and U S-based Cummins Engine Company on July 8 signed an agreement to Set Up a joint venture with equal participation in India to produce Cummins diesel engines to power TELCO commercial vehicles for the Indian and export markets. Announcing this, TELCO said in a statement here that it was Proposed to locate the joint venture at Jamshedpur in Bihar and production was expected to commence in mid1995_ TELCO is India’s largest commercial vehicle producer and commands over 70% of the market and Cummins is the world’s largest independent producer of diesel Engines with a revenue of 3.7 billion U, S, dollars. The low emission and fuel efficient engines produced by the joint venture would have higher durability and enhance TELCO’s offerings of medium and heavy commercial vehicles, enabling the company to substantially improve its Competitive position in both domestic and export markets, the statement said.
Article extracted from this publication >> July 16, 1993
