Kesoram prioritises tyre factory before concluding partnership

The funding for this project will be from internal accruals with inter-company deposits likely to be the preferred instrument of choice.

In its quest to make Birla Tyres a financially strong entity, Kesoram Industries is first focussing on getting its passenger car radial tyre facility up and running at Odisha and thereafter advance its talks for partnerships.

P Radhakrishnan, chief financial officer at Kesoram Industries told Business Standard that the first priority for the company is to show its seriousness and commitment to the tyres business before talks with partners can proceed.

It is investing Rs 200 crore in the new tyres facility which will initially have an installed capacity to roll out 2 million tyres and can be scaled up