Caterpillar to invest USD 200 million in India
Wednesday, 11 Nov 2009
Bloomberg reported that Caterpillar plans to invest USD 200 million in India over five years to meet rising demand for construction equipment and benefit from growth in Asia by 2020.
According to Bloomberg, Caterpillar is trying to position itself in a growth area as sales drop at its home in the US. It is close to signing an agreement on an engine-making partnership in India and has received JV offers from equipment makers in China.
Cat is said to also be planning to extend loans to buyers of bulldozers and excavators in India and is talking to the government for approval for its financing unit.
(Sourced from www.bloomberg.net)
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