Tyre maker Ceat will invest Rs 300 crore to set up a manufacturing facility in Maharashtra to primarily serve export market for off-road radial tyres.
The company, which today reported 27.03 per cent increase in consolidated net profit at Rs 113.39 crore for the third quarter ended December 31, has already transfered its land in Ambernath, Maharashtra to its wholly-owned subsidiary Ceat Specialty Tyres Ltd (CSTL) to set up the plant.
Besides, Ceat has made an equity investment of Rs 25 crore to CSTL.
Project Value
INR 300 Crore /-
Planning
Maharashtra
India
Rubber
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