Metro Tyres to invest Rs 300 crore over 2-3 years

Metro Tyres said on Wednesday it will invest Rs 300 crore over the next 2-3 years to expand capacity at its plants across the country and towards research and development (R&D).

"We will invest Rs 300 crore in the next 2-3 year to expand capacity of tyre production capacity and towards R&D. We will fund this through a combination of internal accruals, promoters funds and trusted investors," Metro Tyres Managing Director Rummy Chhabra told PTI.

The company has four plants in Ludhiana and one Manesar and two in Noida.

Metro Tyres on Wednesday announced foray in the two-wheeler radial tyre segment and aiming for 10 per cent of market share in the next 2-3 years.

"With the capex we are looking at expanding two-wheeler tyre capacity from 3,00,000 units per month to 6,00,000 units," Chhabra added.

Metro Tyres has tied up with Continental, Germany for technology transfer in India for tyres.

Chhabra said the company is also developing entry-level two-wheeler tyres and will launch it in two years time.