US-based Caterpillar India today signed a Memorandum of Understanding (MoU) with Tamil Nadu government to start an heavy engineering equipment manufacturing plant near the city with an investment of Rs 800 crore.
The agreement was signed in the presence of Tamil Nadu Chief Minister M Karunanidhi by State Industry Secretary M F Farooqui on behalf of the state government and Caterpillar India President Kevin R Deenamen at the state Secretariat.
Under the agreement, the company would manufacture heavy engineering equipment used in construction and mining industry.
The company would also expand its existing manufacturing plants at Thiruvallur and Hosur, which has been providing jobs to 2,400 people and indirect jobs to 7,500 people.
The new project in Chennai is expected to generate about 600 direct jobs and 1,900 indirect employment.
