THE North's Industrial Development Board (IDB) is expected to announce a multi million pound joint venture later this week, which is expected to create about 1,500 jobs.

The joint venture, between US group Caterpillar and Emerson Electric, the US parent of the Northern Ireland engineering group F.G. Wilson, will be based at sites in Belfast, Larne and Newtownabbey. The plant will produce diesel generating sets.

About 600 people will be employed at the main site in Larne, adjacent to the F.G. Wilson plant, which was bought by Emerson Electric two years ago for between £150 and £200 million sterling.