Caterpillar Trucks the leading global manufacturer of construction and mining equipment and diesel engines, has announced USD $210 million India expansion plan, which will see company setting up a new engine manufacturing facility besides expanding the capacity of its mining trucks. Major portion of the large investments will be made in the engine business as the company anticipates major demand for engines in genset power applications on the back of power deficit in the country.
USD $150 million will be invested in a new manufacturing project to produce Perkins brand of 4000 series engines for electric power applications. Perkins, a subsidiary of the Caterpillar company, is a leading maker of off-highway diesel and gas engines. Caterpillar (CAT) is scouting for location for the proposed facility and is expected to finalise the same in the next 2-3 months.
CAT's new engine facility, which will be set up under a new legal entity carrying Perkins brand name, will make engines for power applications in the range of 750 kV to 2500 kV. The new plant is expected to have an initial capacity of 3,000 units a year, which would be ramped up to 5,000 units a year later.
Caterpillar (CAT) has already been selling a range of engines for various industrial applications in India. The engine brands include FG Wilson, Olympia and Caterpillar. The Perkins brand of engines, which will have lower price points compared to other brands, will be marketed to third party consumers for genset applications.
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