American construction and engineering equipment manufacturer Caterpillar Inc. is set to expand its existing units in Krishnagiri and Tiruvallur districts in Tamil Nadu with a total investment of ₹500 crore.
A Memorandum of Understanding (MoU) to this effect was signed in the presence of Tamil Nadu Chief Minister M.K. Stalin in Chicago in the United States on Wednesday (Thursday morning IST).
Tamil Nadu’s Minister for Industries, Investment Promotion and Commerce T.R.B. Rajaa, Caterpillar Inc. director Bhuvan Anandakrishnan, and senior vice president Greg Hepler were among those present when the MoU was signed and exchanged, an official release from the State government said.
As of September 11, the Tamil Nadu government has signed and exchanged a total of 16 MoU for investment proposals to the tune of over ₹7,500 crore to the State during Mr. Stalin’s visit to the US.
Mr. Stalin left for the US in the last week of August on a two-week official visit, as part of his mission to get investment proposals for Tamil Nadu. Since assuming office in May 2021, he had visited the United Arab Emirates, Singapore, Japan and Spain to get investment proposals.
The Chief Minister is expected to return to Chennai this weekend.
Published - September 12, 2024 12:16 pm IST
