Caterpillar plans $200m investment in India

	MENAFN - 08/11/2009

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(MENAFN) A senior executive at Caterpillar Inc., the world's largest maker of bulldozers and excavators, said that the company is planning to invest $200 million in India over five years to make construction equipment there, Bloomberg reported.

The company is open to forming joint ventures with local manufacturers as it seeks to boost sales in India, where the government plans to add 20 kilometers (12.5 miles) of roads a day, the official said in an interview.

India will award contracts worth $21 billion to build about 7,500 miles of roads through June and the government will ease investment rules to boost highway projects, Kamal Nath, Minister for Road Transport and Highways said on Nov. 4.

The nation needs $70 billion in investments in the next three to four years to meet its target of laying 4,350 miles of roads each year, the minister said in September.

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