Ceat Tyres will set up a manufacturing faciliy in Nagpur, Maharashtra. With investment plans of up to Rs. 400 crore, the facility will be built in three phases. The first phase being built between 2014-16 itself accounts for Rs. 400 crore.
Spread across an area of 60 acres, this facility will have a production capacity of 1.2 million tyres annually. The plant will manufacture two-wheeler as well as four-wheeler tyres.
The plant is expected to be operational from its first phase by April 2016. Volumes for the two-wheeler tyres are expected to be doubled based on market demand.