Union Agriculture Minister inaugurates first Greenfield Farm Machinery Plant in MP

Tags: Economy/Finance National News

Union Agriculture Minister Narendra Singh Tomar on 15 November, 2022 inaugurated the first greenfield farm machinery plant of Mahindra & Mahindra at Pithampur in Madhya Pradesh.

Important facts

• This new farm machinery plant is capable of manufacturing affordable and accessible farm machinery equipment under the Mahindra and Swaraj brands.

• The plant will also manufacture products for export to global markets in Asia, Africa, Europe and the America.

• The facility is capable of manufacturing a range of new products designed at Mahindra's Global Centers of Technology Excellence in Finland, Japan and Turkey.

• The plant is spread over 23 acres and can manufacture 1,200 combine harvesters and 3,300 rice transplanters per year.

• The establishment of this plant is likely to provide employment to about 1,100 people.

• Mahindra has been one of the leading tractor manufacturing companies globally. 

• In fact, in the first half of the financial year 2022-23, the company sold 2,52,844 tractors in the country, which was 12 percent more than the previous one.

What is a Greenfield Project?

• It refers to an investment in a building, office, or other physical company-related structure or group of structures where no prior facilities exist.