Tamil Nadu Secures Rs 500 Crore Investment from Caterpillar Inc

The Tamil Nadu government has signed an MoU with Caterpillar Inc, securing a Rs 500 crore investment for facility expansion. This agreement, signed in Chicago during Chief Minister M K Stalin's US tour, is part of a larger effort attracting Rs 7,016 crore in investments from 16 global companies.

The Tamil Nadu government announced on Thursday that it has entered into a Memorandum of Understanding (MoU) with Caterpillar Inc. This leading equipment manufacturer has committed to invest Rs 500 crore to expand its facilities in the state.

The MoU was signed on September 11 in Chicago, during Chief Minister M K Stalin's US investment-attraction tour. This investment will augment Caterpillar's construction equipment manufacturing facilities in Tiruvallur and Krishnagiri districts.

In addition to this, Chief Minister Stalin's visit has also secured MoUs worth Rs 7,016 crore with 16 other global companies. Among the attendees of the Caterpillar signing event were Bhuvan Ananthakrishnan, Caterpillar's Director, and Kirk Eppler, the senior vice president. Tamil Nadu's Minister for Industries T R B Rajaa and other senior officials were also present.

(With inputs from agencies.)