CEAT Inaugurates New Tyre Facility In Tamil Nadu, Plans To Invest Rs 4000 Crore
Published On 01-Jul-2020 00:13:00
The manufacturing plant will produce motorcycle as well as passenger car tyres
India’s leading tyre manufacturer, CEAT has unveiled its new tyre production plant in Chennai, Tamil Nadu. The greenfield plant of CEAT is spread in 163-acre of land. The company plans to invest Rs 4000 crore in the factory over a period of 10 years. The facility has the capacity to produce 28500 passenger car radial tyres and 2500 motorcycle radial tyres per day.
Located in Kanchipuram town the facility was inaugurated on Feb 12, 2020 (Wednesday) by the Tamil Nadu Chief Minister Edappadi K Palaniswami. CEAT has already invested Rs 1400 crore on the facility development which will provide jobs to more than 1000 people in the coming years. With this, the Mumbai-based tyre giant becomes fourth tyre manufacturer to establish its plant in the southern state after Apollo Tyres, Michelin, and TVS Tyres. Other plants of the company are situated in Mumbai, Nasik, Nagpur, Ambernath, and Halol.
Speaking on the occasion, Edappadi K Palaniswami, Honourable Chief Minister Tamil Nadu said, "We are delighted that CEAT and the RPG Group have decided to launch their manufacturing plant in Tamil Nadu, India's largest tyre manufacturing state. CEAT's factory will be a jewel in the crown of Tamil Nadu. We are certain that this will bring many new job opportunities.”
Anant Goenka, MD of CEAT was delighted as the plant was commissioned within 18 months of the signing of the MoU. He said, "Tamil Nadu offers the unique benefit of having many automobile manufacturers, proximity to a port and a favourable labour environment."
The tyre maker is now focussing on manufacturing tyres for electric vehicles, high-end cars & bikes. Goenka informed that the Chennai plant will be the company’s highest-capacity plant in the country which will also help them cater to European markets. The plant will be fully functional in the next six months.