Ceat approves funds for new tyre factory
At a meeting on 30 October, the Board of Directors of Indian tyre maker Ceat Ltd approved an Rs 4,200 billion (£43 million) investment to set up a new plant for producing tyres for two and three-wheeled vehicles. This planned facility is expected to have a daily capacity of 120 tonnes. It is understood that the facility will be built in the city of Nagpur, Maharashtra State, rather than in Karnataka State as originally planned.