CEAT looks to invest USD120m to expand CV tyre production capacity by 45,000 tyres a month
By RACE Innovations Pvt Ltd - 16th September 2024
CEAT tyre factory in Chennai - it is investing USD120m ina added tyre production capacity
India - CEAT Ltd, one of India’s main tyre manufacturers based in Mumbai, has announced plans to invest USD 120 million (INR 1,000 crore) in expanding and improving tyre production in India in the current fiscal year 2024/25. Some USD90m is to be spent on capital expenditure to add capacity and the remaining USD30m on plant service and maintenance.
The CEAT Chennai tyre manufacturing facility is to receive the bulk of the investment to expand the production capacity of truck & bus radial (TBR) tyres and passenger car radial (PCR) tyres. The Chennai facility, a 163-acre greenfield site, began operations in February 2020 and has since produced around 200 SKUs (stock keeping units - a unique identifier or code that helps differentiate between one product and another), including tyres for passenger vehicles, motorcycles, and trucks and buses.
