ERJ staff report (DS)
Mumbai - Ceat Ltd has decided to build a tyre factory in Bangladesh. The factory is expected to have production capacity for 65 tonnes/day, according to a stock echange filing.
The factory will primarily be aimed at truck and light truck sectors, but will also devote around 20 percent of capacity to tyres for two- and three-wheelers.
Local papers quoted Anant Goenka, Deputy Managing Director, CEATsaying the plant represents an investment of Rs 2500 million (euro 38 million).
The company said it hopes to replicate in Bangladesh its success in Sri Lanka -- where it is the only pneumatic tyre maker.
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Stock exchange statement from Ceat
The Hindu Business Line (India)