TN emerging tyre capital, big tyre companies line up projects in the State

Going by the investments pouring into making automotive tyres, the wheel of fortune is set to swing the Tamil Nadu way. According to official estimates, a copious investment of nearly $ 1 Billion has already been pumped into the State by leading tyre companies.

Apollo Tyres, ATC Tires, MRF, Dunlop and TVS Srichakra are some of those who have made big ticket investments, earning TN the tyre capital tag. The sector is also attracting more players. “We are gearing up for a fresh investment wave of Rs 5,600 crore in the tyre sector in the next 3-4 years,” a top government official told ET, on condition of anonymity. Already, investments of Rs 4,400 crore are either in the partial completion or under implementation stage this year, the official said.
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Courtesy : economictimes.indiatimes.com

This entry was posted on Thursday, November 5th, 2009 at 6:59 pm and is filed under tyres. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.