Reports: Maxxis/Cheng Shin planning India factory
Multiple Indian news sources are reporting that Taiwanese tyre maker Cheng Shin/Maxxis is planning to invest in an Indian factory. According to one Business Standard report, group president Dr. Wally Chen called upon Gujarat chief minister Anandiben Patel on 15 October.
While the numbers sound small for a greenfield tyre manufacturing plant, the reports suggest the talks focused on the investment of 4 billion rupees (roughly £40 million) in a new plant. Citing unnamed sources, the Business standard suggested that around 35 acres of land would be needed and formal application was to follow shortly. The site is said to be located in Sanand, Gujurat and is likely to be accompanied by state support for the venture.
Around the same time that the India reports were being published, Maxxis released statements suggesting the new Indonesian president supports separate plans to build a Maxxis factory in Indonesia. The question is does the company intend to construct two factorys, seeing Indonesia and India as competing locations or are the both being evaluated for different projects?