Greaves has chalked out plans to introduce a synthetic wood product, which finds application in almost all areas where traditional wood is currently used.

It will be manufactured using recycled polymers through the compoundation process and will be extremely cost effective and cheaper than traditional wood. This project envisages an additional investment of Rs 11 crore by Greaves at RRPL's unit in Rajasthan.

Besides, the company is also planning to introduce new tractor models in the 25hp to 70hp categories over the next three years under its arrangement with a company in Italy. The company is presently producing 50hp tractors at Ranipet, Tamil Nadu.