CEAT is planning to set up a radial tyre plant in Chennai. The company has acquired 163- acre land in Maduramangalam near Sriperumpudir in Chennai for over Rs 60 crore in October 2017. The new project will entail an investment of Rs. 50,000 million and will come up over a period of 5 years. The land parcel is located along the upcoming Chennai Bangalore corridor in the industrial cluster of Sriperumbudur. This corridor has presence of many automobile OEMs (original equipment manufacturers).
The new plant will have an initial capacity of 250 tonnes per day or 0.7 million tyres per month where it will manufacture radial tyres for lorries, buses and cars and also two-wheeler tyres. The new unit will be mostly used for exports market. It may be noted, the company has 6 manufacturing facilities in Bhandup, Nashik, Halol, Ambernath and Sri Lanka.