Caterpillar to invest Rs 5 billion to expand Tamil Nadu facilities

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Caterpillar to invest Rs 5 billion to expand Tamil Nadu facilities

Caterpillar to invest Rs 5 billion to expand Tamil Nadu facilities

Industry News
Sep 13,24

In addition to this MoU, agreements worth Rs 70.16 billion were signed with 16 global companies in San Francisco and Chicago.

Caterpillar to invest Rs 5 billion to expand Tamil Nadu facilities

Caterpillar Inc., a global leader in construction and mining equipment, has announced a Rs 5 billion investment to expand its manufacturing facilities in Tamil Nadu's Tiruvallur and Krishnagiri districts. The company formalised this commitment through a memorandum of understanding signed in Chicago, with Tamil Nadu Chief Minister MK Stalin and Industries Minister TRB Rajaa present at the ceremony.

The MoU was signed by Bhuvan Ananthakrishnan, Director, Caterpillar, Kirk Eppler, Senior Vice President, and other senior officials. Caterpillar, which operates across four segments—construction industries, resource industries, energy and transportation, and financial products—produces a wide range of machinery including tractors, hydraulic excavators, and backhoe loaders.

Following the signing, Chief Minister Stalin expressed his gratitude on Twitter, highlighting the deepening partnership between Caterpillar and Tamil Nadu. He emphasised that the new investment will further strengthen the state's manufacturing sector.

This agreement is part of a broader effort by the Chief Minister to attract industrial investments to Tamil Nadu during his official visit to the US. In addition to this MoU, agreements worth Rs 70.16 billion were signed with 16 global companies in San Francisco and Chicago. The Chief Minister also met with executives from various multinational corporations to encourage further industrial investment in the state.

(TNIE)