The Michelin Group and Tamil Nadu government have signed a Memorandum of Understanding (MoU) for Michelin’s tyre manufacturing plant, 50km north of Chennai at Thervoy Kandigai in Thiruvallur district. With a committed investment of Rs. 4,000 crores, the plant will be spread over an area of 290 acres and will absorb 1,500 workers locally.
At the signing ceremony, Mr. Prashant Prabhu, President, Michelin Africa-India-Middle East, said, “With the accelerating development of road and highways infrastructure and the number of ongoing road development projects, India is on course to offer customers the opportunity to extract the full value from radial tyres. We believe that India holds tremendous potential for the Michelin Group in terms of establishing a world class manufacturing facility.â€
The manufacturing facility will focus on a range of radial truck and bus tyres. The plant will start operations in 2012 and will focus on the growing Indian market. The Memorandum of Understanding (MoU) in this regard was signed today by the Michelin management and the Tamil Nadu Government in the presence of Chief Minister Mr. Karunanidhi.
