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CEAT invests Rs 400 cr in new plant in Nagpur

Friday, 12 Dec 2014
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CEAT Tyres is setting up a new plant in Butibori, Nagpur. It will invest Rs 400 crore in Phase-I of what will be a three-phase investment.

 

The Chief Minister of Maharashtra laid the foundation stone for the plant which is projected to begin operation by April 2016. This plant is spread across 60 acre of land and will have a capacity of 12 lakh tyres a month. The company plans to double its production capacity with this plant in a span of two years.

 

From the total investment of 400 crore, over Rs 120 crore will come as equity from QIP receipts and the remaining from a bank loan.

 

Apart from the Nagpur plant, two new units are coming up: one at Halol in Gujarat with an investment of Rs 650 crore; and the other near Dacca in Bangladesh, at a cost of Rs 300 crore. The Halol plant is expected to get started by October next year, while the plant in Bangladesh will take the same time as that of the Nagpur plant.

 

CEAT Tyres’ total investment will reach Rs 1,200 crore and will create around 2,800 jobs.

 

More Project Info:
Tyres (Butibori) Project

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