CEAT inaugurates Rs 1,400cr radial tyre plant in Tamil Nadu
RPG Group-controlled Cavi Electrici e Affini Torino (CEAT) inaugurated its sixth tyre-manufacturing plant near Chennai to boost market share in the car and two-wheeler radials segment controlled tightly by market leader MRF.
The plant, which has a manufacturing capacity of 28,500 passenger car-radial tyres and 2,500 motorcycle-radial tyres per day, has seen an investment of Rs 1,400 crore in Phase 1. CEAT is presently the fourth-largest tyre-maker (in tonnage) in India.
The total outlay for future expansion, including the manufacture of other segments tyres like commercial vehicle and off-road tyres, can also be considered in later years, the company informed. CEAT has outlined an investment proposal of Rs 4,000 crore over a period of 10 years employing more than 1,000 people over the next few years.
Anant Goenka, Managing Director - CEAT, said, “We have a market share of 10 percent in passenger car tyres (PCR) and 28 percent share in two-wheeler tyres. We would like to improve our share in both the segments. PCRs are a very important segment and we would like to focus on expanding our growth in that segment.”