Caterpillar, TN govt sign MoU
Caterpillar India, a United States-based heavy machinery giant, has signed an MoU with the Tamil Nadu government to start a heavy engineering equipment manufacturing plant near the city.
It is planning to invest Rs800 crore in the plant.
Under the agreement, the company would manufacture heavy engineering equipment used in construction and mining industry.
The company would also expand its existing manufacturing plants at Thiruvallur and Hosur, which has been providing jobs to 2,400 people and indirect jobs to 7,500 people. The new project in Chennai is expected to generate about 600 direct and 1,900 indirect jobs.