Current Affairs - Business - Discussion

Tyre major CEAT, the flagship company of the RPG Group, signed a MoU with the Tamil Nadu State government to invest Rs.4,000 crore in a greenfield plant in Sriperumbudur near Chennai to boost the State's tyre manufacturing capacity. This plant would boost its capabilities in the motorcycle and car tyre segments. The company would start with car radial tyres, with an initial capacity of around 250 tonnes per day. CEAT has acquired 163 acres of land by itself for the project. The financial incentives for the project have been the approved by the State Cabinet.