Tamil Nadu Chief Minister Edappadi K Palaniswami inaugurated CEAT’s sixth tyre-manufacturing plant near Chennai.
The plant, worth Rs 1,400 crore, has been set up by CEAT to boost market share in the car and two-wheeler radials segment controlled tightly by market leader MRF.
The facility has a manufacturing capacity of 28,500 passenger car-radial tyres and 2,500 motorcycle-radial tyres per day.
Currently the fourth-largest tyre-maker (in tonnage) in India, CEAT informed that the total outlay for future expansion, including the manufacture of other segments tyres like commercial vehicle and off-road tyres, can also be considered in later years.
The company has outlined an investment proposal of Rs 4,000 crore over a period of 10 years employing more than 1,000 people over the next few years.
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