Ceat has received an approval for investment of approximately Rs 2,800 crore over a period of five years up to FY2022 towards incremental capacity of 1 million tyres per annum for Truck Bus Radial, 17 million tyres per annum for 2-Wheelers and 6 million tyres per annum for Passenger Car Radials.
The board of directors at its meeting held on December 16, 2016, has approved for the same. The investments are proposed to be funded through a blend of debt and equity.
Ceat is among the best tyre manufacturers in India. It manufactures a wide range of tyres for two-wheelers, three-wheelers, four-wheelers, tractors and tippers and trucks. Besides tyres, the company also manufactures and markets tubes and flaps.
