Leading two-and three-wheeler tyre maker TVS Srichakra is planning a capex of Rs 160 crore. The company will use the capital to expand its production capacity - in view of favourable growth outlook in the domestic two-wheeler market - as also to beef up its exports.
Further, the company is planning to expand its capacities at Madurai and Pantnagar (Uttarakhand) factories. The company will increase the total capacity from 2.3 million tyres a month to 2.5 million.
TVS Srichakra is a part of TVS Group. It is engaged in the manufacture and sale of two and three wheeler tyres and tubes having a turnover of more than $300 million.
