Michelin Group has signed a MoU with the Tamil Nadu government to set up its tyre manufacturing unit near Chennai. The MoU was signed by state industries secretary MF Farooqui and Prashant Prabhu, president, Michelin Africa-India-Middle East.
An investment of Rs 4,000crore, the project will come up on 290 acres at the Thervoy Kandigai, 50km north of Chennai in Thiruvallur district and will bring with it an employment opportunity for 1,500 local workers.
The plant will produce heavy commercial vehicles tyres, off-road heavy tyres fitted in construction equipment made by JCB, Caterpillar and others.
“The manufacturing facility will focus on a range of radial\bus tyres. The plant will start operations in 2012 and will focus on the growing Indian market,” the company said in a statement.
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