Escorts lines up diesel generator unit in Ghana

Farm equipment maker Escorts Ltd is considering setting up a diesel generator assembly line in Ghana and is currently scouting for a local partner there, Shenu Agarwal, business head (agri-machinery division), said on Wednesday. The company is currently in talks with the Ghana government, Agarwal said.

“We expect to finalise the project in two to three months,” he said without detailing the likely investment to be made in the project.

The company has recently set up an assembly line in Ghana in joint venture with Foundry and Agric Machinery (GH) Ltd to sell its Farmtrac range of tractors there.
Escorts, which earns close to 60% of its revenue from selling agricultural machineries, is also planning to step up sales of its diesel generators in India.

The company has a 10% market share in the 1,00,000-unit diesel generator market in the organised sector, which is growing annually by around 15% a year, Agarwal said. “We plan to increase our market share to 30% in next three years,” he said.