Tamil Nadu government delegation headed by Chief Minister M K Stalin exchanged a memorandum of understanding (MoU) with Caterpillar to expand their construction equipment manufacturing facilities.
“The longstanding association between Caterpillar and Tamil Nadu has been further strengthened by new investments! We’ve exchanged an MoU with Caterpillar to expand their construction equipment manufacturing facilities. A big thanks to Caterpillar for investing further in Thiruvallur and Krishnagiri districts, further strengthening our partnership!” the Chief Minister posted on X.
According to an official release issued by the state government, Caterpillar would invest Rs 500 crore in expanding its construction equipment manufacturing facilities in Thiruvallur and Krishnagiri.
State industries minister TRB Rajaa, Director of Caterpllar Mr Bhuvan Ananthakrishnan and senior vice president Mr Kirk Elber besides state industries secretary V Arun Roy and managing director of Guidance Tamil Nadu V Vishnu were also present during the signing of the investment pacts.
On Sept 10, the Tamil Nadu CM said that he had a very engaging discussion with the team from Ford Motors. The CM and Ford explored the feasibility of renewing Ford’s three-decade partnership with Tamil Nadu, to again make in Tamil Nadu for the world.
Earlier on September 9, Stalin underlined some of the key MoU’s he had signed during his visit. Stalin said that the state government has inked an MoU with Autodesk to skill youth and boost MSMEs and startups in the state.
The Tamil Nadu government has also secured a significant investment of Rs 2000 crore at the Tiruchirapalli, which will create around 5000 jobs in the district. This investment by Jabil will create a new cluster for electronics manufacturing in the district.
Rockwell Automation, a company in the industrial automation sector, will expand its manufacturing with a Rs 666 crore investment in Kanchipuram, which will bring around 365 jobs.
Stalin is currently on an official visit to the United States to secure support and investments aimed at boosting the prosperity of Tamil Nadu.
On September 7, Stalin held a fruitful discussion with the officials of ‘BNY Mellon’ regarding the potential investment opportunities in Al (Artificial Intelligence).
BNY Mellon is a global financial services company that provides investment management and services to help individuals and institutions invest, conduct business, and transact in markets. Earlier on September 6, Stalin said that the state has secured MOUs (memorandum of understanding), worth Rs 850 crores with US- based companies Lincoln Electric, Vishay Precision, and Visteon.
Tamil Nadu also secured a Rs 2000 crore Memorandum of Understanding (MoU) with Trilliant to establish a manufacturing unit as well as create their Development and Global Support Centre in the state. Stalin signed MOUs with Eaton, a multinational power management company, for Rs 200 crore R&D and engineering centre expansion in Chennai.