Ceat to Invest Almost £100M in New Facilities

The managing director of Ceat Ltd took the opportunity to elaborate upon his company’s plans for a new radial project and OTR facility during a press conference in the Indian city of Mumbai. Mr. Paras K Chowdhary said Ceat will invest a total of 8 billion rupees (£98.4 million) in the greenfield projects – 5 billion (£61.5 million) in the radial project and the remainder in the OTR plant, which will be located in the western Indian state of Maharastra. About 1.2 billion rupees (£14.8) from the sale of Ceat land in Mumbai will be used to fund the projects.

The radial facility will have a capacity of 120 tonnes per day while the OTR facility capacity will deliver an output of 40 tonnes. The company also announced it may increase tyre prices by 2 to 3 per cent in March or April to offset the increasing cost of rubber and crude oil.