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17 November 2009 at 15:10 IST
Michelin to build tyre factory in India
CHENNAI (Commodity Online) : Multinational tyre giant, Michelin and India’s southern state of Tamil Nadu have signed an MoU to build truck and bus radial tyre facility in the state.
In a statement, Michelin said it will invest Rs 40 billion ($870 million) for the proposed facility, spread over 290 acres, would be constructed at Thervoy Kandigai, near Chennai and will employ about 1,500 workers from local communities.
The plant, which would start its operations in 2012, would produce a range of truck and bus radial tyres, the company said, without sharing its production capacity.
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