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Home arrow Engineering, Technology, Research and Development arrow Caterpillar signs MoU with TN Govt. to set up Rs 800 cr plant near Chennai

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Caterpillar signs MoU with TN Govt. to set up Rs 800 cr plant near Chennai
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Written by Ganesh   
Friday, 19 December 2008

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Chennai : A Memorandum of Understanding (MoU) was signed between the Government of Tamil Nadu and Caterpillar India Ltd. in the presence of Hon'ble Chief Minister to set up a heavy engineering equipment manufacturing plant near Chennai with a capital investment of Rs 800 crore (173.3 million U.S. dollars).

The plant will manufacture heavy engineering equipment which is used in the construction and mining industry.

The MoU was signed by M F Farooqui, the State Industry Secretary, on behalf of the state government and Kevin R Deenamen, Director-Caterpillar India Ltd., in the presence of the Hon'ble Chief Minister of Tamil Nadu, M Karunanidhi at the state secretariat.

The new plant is expected to provide direct employment oppertunities to 600 and indirect employment to 1900 people. In addition to catering to the domestic market the production is also expected to be exported to over 45 locations.

Caterpillar India Ltd. will also be expanding its manufacturing capacity at its plants in Thiruvallur and Hosur.

According to officials the timing of the investment plans, in the midst of a global economic slowdown, shows the potential in th state.

Caterpillar India Ltd., is the Indian subsidiary the world’s largest manufacturer of construction and mining equipment and off-road vehicles with a business of $50 billion worldwide. The company manufactures construction and mining equipment, excavators, backhoe loaders and engines in India.

Last Updated ( Friday, 19 December 2008 )
 
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