Caterpillar to expand Indian operations, to invest Rs.8 bnDecember 18th, 2008 - 8:20 pm ICT by IANS
Chennai, Dec 18 (IANS) With investments in the infrastructure sector set to increase in India, earthmoving equipment major Caterpillar Inc has decided to expand its Indian operations on an outlay of Rs.8 billion (Rs.800 crore or about $17.78 million). The American company’s wholly-owned Indian subsidiary signed a pact with the Tamil Nadu government to this effect here Thursday.
Apart from expanding its exiting units in Thiruvallur (rolling out earthmoving equipments like dumpers, loaders, excavators and backhoe loaders), and Hosur (making diesel engines and gensets), Caterpillar will be setting up a new facility in the state.
The company, however, is silent on the product it plans to make at the proposed plant.