TIL, formerly Tractors India, will have a significant stake in a joint venture finance company, whose objective would be to finance construction equipment, especially those certified by Caterpillar, a company source said.The finance company will be jointly promoted by TIL, Singapore-based Caterpillar Services Asia and another Indian promoter.The proposal to set up the company is still at an early stage but the company will be based in South India, the source confirmed.Today, the board of directors of TIL approved the proposal for investment in the joint venture finance company.According to an official release issued by TIL today, it has been a growth partner to India's infrastructure sector and is one of the country's leading providers of a wide range of technology intensive equipment for infrastructure development that represent some of the finest in global technology.
