Ceat to invest Rs 200cr to enhance radial capacity

New Delhi, Dec 5: Tyre major Ceat Ltd has said it will invest around Rs 200 crore over four years to enhance radial capacity in its Nashik plant to about 2,50,000 tyres a month from 40,000 at present.

It will utilise part of the proceeds of its 10 million dollar worth of external commercial borrowings to enhance radial capacity.

The enhancement will largely be in passenger car and utility vehicle radials and also some OTR sizes, a statement said.

Meanwhile, the company rolled out the first batch of radial tyres from its newly commissioned expanded facility at Nashik increasing its radial tyre production capacity to 65,000.

Having achieved the target of 65,000 passenger car radials in the first phase, Ceat now plans to increase production capacity to 1,00,000 tyres by the end of the next phase.

UNI