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CEAT to make USD164m investment in expanding bus and truck tyre capacity

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By Jim Gibbins - 3rd May 2021

Mumbai / Gujarat / Chennai - CEAT Ltd of Mumbai, a full range tyre manufacturer, says it plans to make an investment of USD164m (INR1200Cr) in financial year 2021-22 to expand production of its radial bus and truck tyres.

The investment is part of plans approved by the company board in July 2019 to invest a sum of up to USD479m to expand the Halol plant (truck and bus radial) and Chennai plant (passenger cars and motorcycles). The USD164m project will now be undertaken in two phases and expenditure will be made in accordance with India’s speed of economic recovery: The first part is to be invested now, and the second part is to be funded when the market picks up.

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