Atlas Copco is expanding its production capacity of rock drilling tools in Fagersta, Sweden, by investing around $60m.

According to the company, the investment will ramp up its production capacity to meet the demand from the mining and construction industries.

Atlas Copco construction and mining technique business area president Björn Rosengren said the investment in advanced equipment will increase output and reduce lead times.

Work on the investment will start immediately and the effects are expected to be realised gradually in 2012 with full effect from 2013.