Ceat, the tyre manufacturing company of the Rs 16,000-crore RPG Group, will double the capacity of the radial unit it has set up in Halol,
The company’s board will meet shortly to approve increasing the capacity of the Halol facility to about 300 tonnes per day from 130 tonnes per day, which will be its initial capacity. An investment of about Rs 630 crore will be required for this.
The board will also finalise the ways to fund the expansion plans. The raised funds will also be invested on research and development (R&D) activities. This plant in Gujarat, a substantial production of which will cater to the export market, was earlier supposed to be operational in May this year but due to unspecified internal reasons, the launch plans got delayed by nearly five months.
Ceat’s additional capacity will be coming up at a time when automotive manufacturers, especially commercial vehicle (CV) makers such as Ashok Leyland, Mahindra & Mahindra and Tata Motors, are complaining of lack in tyre supply within the industry.
crackcrackCompany Name | CMP |
---|---|
MRF | 128740.00 |
Apollo Tyres | 481.00 |
CEAT | 2297.75 |
Balkrishna Inds. | 2471.00 |
JK Tyres & Inds. | 379.70 |
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