US-based mining and construction equipment leader Caterpillar Inc will invest $300 mn in India. It currently has three manufacturing centres in India.
The Hosur plant makes engines, Thiruvallur makes trucks for the mining and construction sector and the Puducherry plant makes small gensets. It has bid for a diesel locomotive contract worth $5 bn with the Indian Railways. The deal involves supply of 100 diesel locomotives every year for the next 10 years. The contract is expected to be awarded in the first half of next year.
Contact: Caterpillar. Website: www.india.cat.com