RPG Investing in CEAT, Philips Carbon Black

India’s RPG group recently outlined plans to invest Rs 30 billion (£357 million) in its tyre and carbon black subsidiaries over the next two years. In late May company chairman Rama Prasad Goenka told media that this investment was part of the group’s expansion programme, and that from the disclosed total, Rs 20 billion would be directed towards the Ceat Tyres operation and Rs 10 billion to Philips Carbon Black.

The investment was necessary if the company was to remain competitive following the government’s liberalisation, privatisation and globalisation policies, he said. The group was, he added, aiming to increase productivity, quality and facilities to workers by the expansion.