New Delhi, July 11 (PTI): Escorts plans to float a joint venture in China to sell and service tractors in collaboration with a local company, according to Rakesh Chopra, business head (agri machinery group).

Escorts, which has joint ventures in the US and Poland, will replicate the same model for the Chinese market.

The company’s proposed move was aimed at tapping the burgeoning Chinese tractor market. He, however, said, “It will be too early to specify the timeframe or the amount to be invested there.”

The Nandas-promoted Escorts is flush with funds from a spate of divestments in the recent past.

In the US, Escorts has joint venture firm Long Agribusiness, which is the Indian company’s exclusive distributor for agricultural tractors in the US. Long Agribusiness was set up between Escorts through its American subsidiary Escorts Agri Machinery and the US-based Long which is controlled by Alvere & Marcell.