TOKYO -- In an effort to meet growing demand for large agricultural machinery in China, Japanese farm equipment maker Iseki plans to build a new plant to increase its annual production capacity there about sixfold to 60,000 units.
Its local manufacturing and marketing joint venture will spend about 9 billion yen ($72.8 million) to build a plant to produce tractors. As the Chinese government is promoting mechanization of labor-intensive agriculture, China is expected to become one of the largest farm equipment markets in the world. IHI and other Japanese farm machinery makers are aiming to make a foray into the market.
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