Tyre makers, Ceat said work on its maiden
two-wheeler tyre facility near Nagpur has begun and will invest Rs 1,200 crore
over the next four years to create a capacity to roll out 30 lakh tyres per
month from the unit.
Construction of the plant will be carried out in
three phases and the first one with a capacity of 12 lakh tyres a month will be
operational by April 2016, Ceat managing director Anant Goenka said.
Goenka conceded the prevailing slowdown in the
automobile sector has affected the sales of tyres to original equipment
manufacturers (OEMs).
The RPG Group firm has been outsourcing two-wheeler
tyres to a Hyderabad-based company till now and has decided to start
manufacturing itself at a greenfield plant at Butibori on the city's outskirts.
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