You are here: Home » PTI Stories » National » News
Business Standard

CEAT Tyres new greenfield unit in TN goes on stream

Business Finance

Press Trust of India  |  Chennai 

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

The company has manufacturing facilities at Bhandup, Mumbai, Nashik, Halol and Nagpur. It also has an off-highway tyre manufacturing plant at Ambernath, Maharashtra.

CEAT exports tyres to around 100 countries.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, February 12 2020. 14:46 IST