Caterpillar MachineryCaterpillar the machinery giants, have announced that they have launched a production of mining trucks in a bid to capitalise on a boom in metals and mining across the former Soviet Union.

A new truck named the 55-ton-payload 773-E went into production late last week. This machine is six-wheeled and is planned to be sold to extractive industries across the country.

Speaking on the matter last week, Steven Wunning. claims: “This isn’t an investment with a five- or seven-year time frame — it’s an investment for the next 25 or 30 years” He continued to explain that the world’s population mostly live in cities and that the population of the world is set to increase to 6 million a year for the next thirty years or so. As a result, he predicts that the need for raw materials for building housing, infrastructure, supplying clean water and other things that make cities work will rise and thus increasing the need and demand for Caterpillar parts.