Tamil Nadu Cabinet gives nod to Ceat's Rs 40-bn tyre manufacturing unit

Tamil Nadu has been losing out to competitive states like Andhra Pradesh when it comes to attracting new investments

A proposal from tyre manufacturer Ceat to set up a manufacturing facility in Tamil Nadu with an investment of Rs 40 billion received the state Cabinet's nod on Thursday. The decision comes at a time when the state has been under criticism for not attracting more investments, especially in the automotive sector, while neighbouring states are getting more investments.  

According to a source in the state government, the Cabinet meeting held on Thursday discussed the proposal, talks on which had been underway for several months now, and approved it. With this, the company can go ahead and start procedures to