London – Indian tire maker CEAT is reportedly investing 4,000 crore Indian rupee (€50 million) in the construction of a greenfield tire manufacturing plant in south of India.
According to Times of India, the new production unit will be based near Sriperumbudur, about 40km west of Chennai.
Another Indian news website, ET Auto, also reported late June that the local government in Tamil Nadu province had cleared the project, which it said was to start operation in “about a year’s time”.
Construction work, said the Indian press, are to start soon on the project.
“The company’s target is to supply to automobile OEMs located nearby and around Chennai including passenger car makers Hyundai, Renault & Nissan and Ford, commercial vehicle units of Ashok Leyland and Bharat Benz,” a government source told Times of India.
No further details on the production capacity of the plant was disclosed.
