Michelin Sets Firm India Plant Plans
Groupe Michelin has formally committed to building its first tyre plant in India, to be located in Chennai. An agreement on the deal was signed December 6 during the visit of French President Nicholas Sarkozy.
The estimated US$500 million radial truck/bus tyre plant will be located 50 kilometres north of Chennai at Thervoy Kandigai, and will be spread over some 300 acres of land. Michelin said it is to be operational in 2012, and will primarily focus on the Indian market. Though not unexpected, the announcement comes on the heels of Michelin’s formal deal to relocate and build a new tyre plant in China. (Tire Review)