Chennai, Sep 12 (PTI) The Tamil Nadu government on Thursday said it has signed an MoU with Caterpillar Inc, a leading equipment manufacturer, which has committed Rs 500 crore investment for expansion of its facilities in the state.
In the presence of Chief Minister M K Stalin, who is on a US tour to attract investments, the MoU was signed on September 11 in Chicago between Caterpillar and the Tamil Nadu government for an investment of Rs 500 crore to expand the existing construction equipment manufacturing facilities in Tiruvallur and Krishnagiri districts.
During his official visit, in the presence of the chief minister, MoUs worth Rs 7,016 (barring Caterpillar's committment) crore have been signed so far with 16 leading global companies in San Francisco and Chicago.
The chief minister also met with senior executives of various leading global companies, inviting them to make new investments in Tamil Nadu, an official release here said.
Bhuvan Ananthakrishnan, Director of Caterpillar, Kirk Eppler, senior vice president, and other senior officials took part in the MoU signing event. Tamil Nadu Minister for Industries, Investment Promotion, and Commerce, T R B Rajaa, Secretary, Industries Department, V Arun Rai, Managing Director-CEO of Industrial Guidance Agency, V Vishnu, and other senior government officials were present.
Caterpillar Inc, a Fortune 500 company, is a leader in the production of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives.