Ceat investing €110m in two-wheel tire expansion

Mumbai, India – Ceat Ltd has announced plans to invest INR12.1 billion (€109 million) in expanding its two-wheel tire production in India.

As part of the move, Ceat aims to add the capacity for the production of 53,000 tires per day at its manufacturing site in Nagpur, in the central Indian state of Maharashtra, said Ceat 16 July.

The site currently has a capacity to produce 80,000 units per day, with a utilisation rate of roughly 95%, the tire maker reported.

The project is expected to be completed by the end of fiscal year 2031 (ending 31 March 2032) and to be implemented in “in phases.”

The expansion, said Ceat, comes as the existing production capacity at the plant “is nearing full utilisation.”

“In line with proactive capacity planning initiatives, the company would augment manufacturing capacity, in greenfield and/or brownfield as per internal assessment,” it added.