Ceat Tyres to set up Rs 400 crore plant in Butibori

Ceat Tyres today announced its plans to invest Rs 400 crore at its manufacturing facility based out in Butibori, Nagpur. Chief Minister of Maharashtra, Devendra Fadnavis laid the cornerstone for the plant that will be set up in three phases.

Spread over a good 60 acres of land, this state-of-the-art tyre plant is expected to manufacture 12 lakh tyres. The completion of the phase one of the plant and the first tyre rollout from this facility is anticipated by April 2016.

Commenting on the occasion, Anant Goenka, Managing Director, CEAT Ltd, said, “With this plant we are looking to double our capacities within two years. This will give us the added impetus to increase our market share.  We are thankful to the Maharashtra Government for the support given to CEAT. Butibori gives us great advantage of reduced logistics cost and a plant in a central location. In addition to that MIDC will support us by providing a great ecosystem and infrastructure for the manufacturing facility.”

This new plant will manufacture two and three-wheeler tyres and will have highly automated manufacturing machinery chosen from the world market. The two-wheeler production volumes are expected to double in the next two years owing to the capacity of this manufacturing facility.