The foundation stone for Ceat’s Rs 700 crore radial tyre plant at Halol (about 40km from Baroda) was laid today by the Gujarat Chief Minister, Narendra Modi. Also present at the function were RPG Enterprises chairman, Harsh Goenka, and Ceat’s Managing Director, Paras K Chowdhary
This plant, a greenfield project, will provide employment to over 1,000 people in the first phase of operations, which is 2009-2010. The first tyre from the plant will roll out by May 2010. The Ceat radial tyre plant will be spread across 125 acres of land and is expected to manufacture four million tyres in phase 1. Subsequently, the capacity will be increased to 12 million in the next 10 years.
The investment of Rs 700 crore from Ceat will be made in two phases – in the first phase (2009-2010), Rs 50...Read More