Commercial production underway at Ceat’s Halol factory
On March 25 Ceat Ltd informed the Bombay Stock Exchange that the commercial production of passenger car and truck radial tyres had begun that day at its new Halol factory in India’s Gujarat state. The plant, whose foundation stone was laid in January 2009, has been erected with an Rs 5 billion (£68 million) investment and is designed to have an annual output of 4 million tyres in its first phase of operation. Capacity should be increased to 12 million units over the coming decade through a second phase expansion project, which will be made with a further Rs 2 billion investment. Between 25 and 40 per cent of the plant’s output is slated for export, the company said in 2009.