Chennai, Feb 12 (GCBusiness) Tamil Nadu Chief Minister Edappadi K Palaniswami today inaugurated tyre major CEAT Limited’s Rs 4,000 crore greenfield manufacturing facility at at Kanathanangal village, Mathuramangalam Post
in Sriperumbudur, about 40 km from here.
The facility, would produce 30,000 tyres per day and have an installed capacity of making 96 lakh radial tyres per annum, for lorries, buses and cars, besides two-wheelers.
Speaking on the occasion, Mr Palaniswami said at present synthetic rubber, one of the raw materials for making tyres, was being imported from abroad.
Stating that a petrochemical plant in the state would help domestic tyre companies to locally source synthetic rubber at cheaper rates, he said it would also help in reducing manufacturing costs and create job opportunities.
He said Tamil Nadu was the biggest force in attracting investments in Asia. ‘Some states are leading in social development parameters and some other in economic development. But, Tamil Nadu, apart from social and economic development, stands tall in all parameters in ensuring all round development’, he added.
Mr Palaniswami congratulated Ceat Tyres Managing Director Anant Goenka and his team for implementing this project within a short span of 18 months.
‘This goes to show the efficiency of CEAT and a committed facilitation support provided by the Tamil Nadu’, he added.
He also requested Mr Anant Goenka to start a major R and D facility in the State. He said by launching this facility, CEAT has joined other tyre makers like MRF, Apollo Tyres, JK Tyres and Michellin Tyres in setting up its
manufacturing facility in the state.