Caterpillar to invest $200 mn in India facilitiesJune 26th, 2008 - 9:34 pm ICT by IANS
Chennai, June 26 (IANS) Earthmoving equipment major Caterpillar Inc., headquartered in the US, will invest $200 million to ramp up its Indian operations over the next four years, the company said here Thursday. The company said it plans to increase production capacities at its diesel engine plant at Hosur, and the earthmoving equipment plant at Tiruvallur - both in Tamil Nadu - to cater to the South East Asian and Russian markets, apart from India.
Caterpillar is also contemplating a new production line at Tiruvallur to roll out high-capacity dumpers of over 120-tonne capacity for the export market.
The company manufactures off highway vehicles like dumpers, backhoe loaders, engines, engine components and generator sets in India.
“This additional investment demonstrates Caterpillar’s commitment to customers in India and the importance of emerging markets across the Asia-Pacific region,” a company release issued here quoted Caterpillar chairman and chief executive Jim Owens as saying.
At Hosur, the company will increase the production of Caterpillar 3508 engine targeting markets like South East Asia and Russia, apart from meeting the needs of its domestic production.
The expansion at its Tiruvallur plant is for increasing production of backhoe loaders for the domestic market, and dumpers for South East Asian markets, a company official told IANS.
The Indian engineering design centre at Tiruvallur employs around 700 engineers and provides engineering support to over 40 Caterpillar plants worldwide.
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