CEAT Tyres new greenfield unit in TN goes on stream

Tyre major CEAT Ltd inaugurated its new Rs 4,000 crore greenfield manufacturing facility at neighbouring Sriperumbudur near here on Wednesday.

The facility would manufacture radial tyres for lorries, buses and cars and also for two-wheeler.

Chief Minister K Palaniswami formally inaugurated the facility located at Kanathanangal village, Mathuramangalam Post, Sriperumbudur along with a host of government officials.

The company officials and Industrial department executives had exchanged documents in 2018 in the presence of Palaniswami.

The Chennai plant's installed production capacity would be 96 lakh tyres per annum.

In its Annual Report for 2018-19, CEAT Tyres said it has lined up investment of Rs 3,500 crore to ramp up production capacity across its plants over a three to four year period.

The RPG Enterprise flagship firm said it has already put in capital to expand plant in Gujarat.

"The total investment in capacity expansion is Rs 3,500 crore, including the amount already incurred on the Halol commercial radial tyre expansion, with the remaining amount to be spent over the next 3-4 years", the report said.

The company was also increasing its two-wheeler tyre manufacturing capacity at Nagpur by 170 lakh tyres per annum