The world's leading construction machinery provider is looking to expand its presence in China to take advantage of the economic growth of the country, one of its senior executives said earlier this week. Stuart Levenick, vice-president of Caterpillar Inc, said the company is working on a long-term plan to increase its investment in China and is expected to announce the details of the blueprint in November.We are expected to quadruple our sales in China in a decade, said Levenick, who was heading a company visit to China. To date, the company has poured US$150 million into China and its sales have exceeded US$500 million.

Levenick said the company was integrating its Chinese business with its global operations, making the country a key player in its overall strategy.Part of the nation's increased appeal comes from its World Trade Organization membership.Despite SARS battering China's economy of late, Levenick said the company is confident of its economic growth and believes the company's business will continue to develop locally.Levenick said Caterpillar had established solid partnerships with Chinese companies.

It has played a part in almost every major Chinese infrastructure project since the early 1980s, including a 4,000- kilometre-long gas pipeline across the nation, the Three Gorges Dam - the world's largest hydropower project - and the Qinghai-Tibet railway.Massive infrastructure schemes in China will create enormous business opportunities for Caterpillar, Levenick said.

Cheng Siwei, vice-chairman of the National People's Congress Standing Committee, met the Caterpillar delegation late on Tuesday.He welcomed the company's long-term vision for China, adding it is very important for China to reinforce its co-operation with multinational companies. Wang Maolin, chairman of the China International Research Association on Transnational Co-operation, and Shi Guangsheng, the former minister of Foreign Trade and Economic Co-operation, also attended the meeting.

From: China Daily