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| TII plans Rs 200 cr spread |
| BS Reporter / Chennai Feb 09, 2012, 00:45 IST |
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Tube Investments of India Limited (TII), part of the Murugappa group, is planning to set up two facilities in Chennai with an investment of around Rs 200 crore to manufacture tubes, and automotive and industrial chains. The company is also planning to set up a bicycle manufacturing unit in Orissa with an investment of around Rs 65 crore, said a senior official.
“We have acquired around 60 acre near Chennai to set up the tube and chain facilities,” said L Ramkumar, managing director, TI Cycles, a part of TII.
He was speaking to reporters on the sidelines of announcing BSA Hercules Chennai Cycling-2012, a mass mobilising cycling event to be organised by the Tamil Nadu government, the Sports Development Authority of Tamil Nadu, CRX Sports and TI Cycles.
While one facility would manufacture tube products for the infrastructure industry, the other would produce automotive and industrial chains.
The tubes facility would manufacture products like hydraulic cylinder tubes used in earth-moving equipment, with a capacity of 3,000 tonne per month.
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