Chennai: The Tamil Nadu government on Thursday signed a MoU with construction equipment major Caterpillar involving an investment of Rs 500 crore to expand its facilities in the State.
The MoU was signed in Chicago in the presence of Chief Minister M K Stalin, who is on an official visit to US to attract investments to the state, and senior officials of Caterpillar.
The investment is for expanding Caterpillar’s construction equipment making units in Tiruvallur and Krishanagiri districts of the State.
Mr Stalin is in Chicago as part of his second leg visit during which MoUs with leading Fortune 500 firms were signed attracting investments to the tune of over Rs 7,000 crores
were signed.
An official release said Tamil Nadu has emerged as a leading state in India across various
economic indicators.
To sustain this progress, attract large-scale investments, create more jobs—particularly
for the youth and women—and uplift their quality of life, the Tamil Nadu government, under
the leadership of the Chief Minister, is actively working to make Tamil Nadu a trillion-dollar
economy by 2030.
As part of this vision, Mr Stalin is currently on an official visit to the USA to promote industrial growth and create job opportunities.
During this visit, in the presence of the Chief Minister, MoUs worth Rs 7,500 crores have been signed with leading global companies in San Francisco during the first leg of visit and at Chicago.
He had also invited senior officials from various leading companies worldwide to invest in Tamil Nadu and also interacted with the Tamil .diaspora.
