Maxxis to set up tyre-making plant in Gujarat, to start with two-wheeler tyres first
Published On 04-Jun-2016
Maxxis Group earlier announced their expansion plans for India. Regarding the same, representatives of the tyre manufacturer met with Gujarat CM Anandiben Patel at her residence in Gandhinagar. The global chairman of Maxxis Group, Tsai Jen Lo was one of the representatives present for the meeting.
The company's mega project is coming up at Sanand and Gujarat government has provided the incentive registration to the chairman as a commitment of 'state support'.
The tyre marque has been allocated 35 acres of industrial land and the chairman of the firm signed the lease deed with the Gujarat Industrial Development Corporation in the presence of senior officials from both organisations. This project is estimated to be completed with an investment of Rs 2500 crores and will employ around 2,000 people.
[caption id="attachment_1830" align="alignnone" width="869"] CM of Gujarat with Chairman of Maxxis[/caption]
The signing of lease deed is a major milestone for this project and now the construction work can be
started. The plant will be set up in Sanand, Gujarat, and the company is planning to start production by the first month of 2017.
Himanshu Srivastava, Director of advisory firm Corporate Catalyst India, said, "Gujarat continues to be the best destination for investors and due to the immense support from the government and the ideal atmosphere in the state for business, more and more number of foreign conglomerates are looking forward to invest in India."
In the initial production run, Maxxis will be supplying two-wheeler tyres for Honda and Yamaha. However, the company also plans to supply tyres to Maruti Suzuki later on. Honda and Suzuki are building their plants in Gujarat therefore, it comes as an opportunity for Maxxis to become their OEM supplier.