Tyre major Michelin is planning to double its capacitgy in India.
The company’s facility in Chennai, its largest and most advanced globally, is on the verge of expanding production capacity to 30,000 tonnes a year. It was set up at an investment of over Rs 3,500 crore.
Mohan Kumar, Executive Vice-President, Michelin India, was quoted as saying by BusinessLine: “We are on track to doubling the capacity in our plant within this year. This capacity increase is due to increased demand from the replacement market and widening of the tyre portfolio manufactured from Chennai plant.”
He added: “We expect this cycle of growth to sustain on the back of a good monsoon, infrastructure push by the Government and increasing rural demand. Our tyres are showing good performance from a cost per km basis as well as safety and reliability leading to our growth year-on-year.”
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