Chennai, June 26 (UNI) As part of its strategic plan to increase its manufacturing footprint in the rapidly growing Asia-Pacific region, Caterpillar Inc today announced 200 million US Dollar investment over a period of four years to increase manufacturing capacity in India.
The announcement to increase engine and machinery production in India was made during a visit to company's India facilities by Caterpillar Inc Chairman and Chief Executive Officer Jim Owens, the company said in a release here.
''Caterpillar machines and engines are being used by our customers in India to drive sustainable development and support economic growth in the areas of infrastructure development, commercial and residential construction, mining, power generation and energy production,''Mr Owens said.
Under the expansion plans, Caterpillar would significantly increase production of off highway trucks at its facility near Chennai.
These trucks are used for coal and other mining applications in India.
The company also plans to expand engine production at its facility in Hosur, adding Caterpillar 3508 engine to its range.
These engines would be used primarily in off highway trucks produced by Caterpillar in India.
The company was also investing in increasing the production capability for backhoe loaders in India.
The backhoe loader was the most widely used construction machine in India and Caterpillar has already more than quadrupled its production in recent years.
Caterpillar was also examining the feasibility of increasing the range of products made in India, with the possibility of building additional manufacturing facilities to meet the demand for its other earth-moving products.
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