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.
More
Courtesy : economictimes.indiatimes.com
Related posts:
- Cost-push pressures tyre companies; price hike looms Indian tyre companies are gearing up for a second round of price hikes in three months in an effort to mitigate margin pressures as prices of rubber continue to climb sharply, officials and analysts said. Leading tyremakers such as MRF Ltd, Apollo Tyres, JK Tyre & Industries and Ceat Ltd are mulling an increase in both car [...]...
- Tyre companies reduces price for a second time in a month Tyre makers have reduced prices by up to Rs 1,500 for trucks and buses and up to Rs 500 on tyres for passenger vehicles, on account of softening raw material prices. This is the second price cut by tyre firms in as many months. Companies had in December reduced prices by 4% on reduction in Cenvat by [...]...
- JK Tyre cuts tyre prices after excise duty cut Tyremaker JK Tyre & Industries has cut truck tyre prices by 100-175 rupees, or up to 1.5 per cent, following excise duty cuts announced on Tuesday, a senior official said. “We have already reduced the prices from the 24th (of February),” A.S. Mehta, director of marketing, told Reuters on Wednesday. This is the third time JK Tyre has [...]...
- Another state races for Grand Prix India seems to be hooked to car racing. After finalising the track for Formula One Grand Prix in Greater Noida, the government is planning to lay a 15-km racing track in Madhya Pradesh. The track will be one of the largest in the world to host Grade-II races like Grand Prix 2, A1 and Formula [...]...
- JK Tyre to invest Rs 1,100 cr on capacity expansion Tyre major JK Tyre is planning to invest Rs 1,100 crore over the next three years to expand its production capacity as it sees its revenues crossing Rs 5,000 crore mark by then. “To meet the increased demand for radial and off the road (OTR) tyres, we will invest Rs 1,100 crore in expanding our production [...]...
- JK Tyre, Ceat up tyre prices by up to 4 pc Tyre manufacturers have hiked their prices by two to 4 per cent from October 1 due to a substantial escalation in the price of its key raw material, natural rubber, in the last five to six months. Natural rubber prices have risen about 50 per cent to Rs 10,500/100 kg in the last six months, according to [...]...
- JK Tyre looks to set up radial unit in TN JK Tyre could soon join the bandwagon of radial tyre companies setting up shops near Chennai. The New Delhi-based corporate group has held preliminary discussions with the Tamil Nadu government as part of evaluating possible locations to establish a car radial facility. Multiple sources, including analysts and senior officials in the auto industry, told ET [...]...
- Tyre firms expect rapid growth; plan bigger investment in 2010 A healthy pick up in demand in auto sector in the face of a visible economic recovery is likely to help the country’s tyre industry to clock 7-8 per cent growth in FY11. Also, in line with the pick up in business growth, tyre companies are likely to make significant increase in their capex plans [...]...
- JK Tyre to invest Rs 1,100 cr on capacity expansion Tyre major JK Tyre is planning to invest Rs 1,100 crore over the next three years to expand its production capacity as it sees its revenues crossing Rs 5,000 crore mark by then. “To meet the increased demand for radial and off the road (OTR) tyres, we will invest Rs 1,100 crore in expanding our production [...]...
- Domestic tyre production in March up 9 pc Tyre production in the country during March this year grew by 9 per cent at 65,96,117 tyres, compared to 60,66,452 tyres during the same month last year. Tyre exports in the month also grew by six per cent at 5,02,444 tyres as against 4,73,332 in the same month of 2006, as per the data released by [...]...