Birla Tyres to Receive £100M Kesoram Investment

India’s Kesoram Industries intends to invest Rs 8 billion (£100 million) into its Birla Tyres operation over the next two years. Reuters reports group chairman B.K. Birla as saying Kesoram Industries will make this investment as part of a Rs 20 million investment programme that will also see Rs 7.5 billion directed into its cement unit and some Rs 4.5 billion into “existing plants.”

Mr. Birla also named his grandson, Kumar Mangalam Birla, as his successor at the helm of Kesoram Industries. “Since Kumar Mangalam is only 42 years old, he will take over the reins of Kesoram after me. This is as per my final will, which was approved by all family members a month ago,” he said.