Michelin to invest Rs 4,000 cr in TN

This first phase investment, spread over a 7-year period would be to create a ‘world class’ manufacturing facility as India held tremendous potential for radial tyres, Michelin Africa-India-Middle East President Prashant Prabhu said here after signing a MoU with Tamil Nadu government. The plant to start will be providing 1500 jobs initially.

The plant will come up over an area of 290 acre which the State has assigned in the ‘SIPCOT (State Industries Promotion Corporation of Tamil Nadu) complex at Thervoy Kandigai near Gummudipoondi in neighbouring Thiruvallur district. The plant would start operations in 2012 and focus on the growing Indian market, Prabhu said.

India plans
“We are committed to strengthening our presence in India and growing our business,” Michelin India Commercial Director Philippe Neyrat said. This plant would augment it capabilities to “cater to our customers here,” he said. The company is also expecting increasing demand for radial truck/bus tyres with the Centre focusing on road infrastructure, he noted.

Michelin is one of the world’s largest tyre manufacturers with 68 production centres across 19 countries.
The company also publishes travel guides, hotel and restaurant guides, maps and road atlases to help offer better mobility support services.