Michelin has announced plans to invest nearly USD900m to build a plant to in India.
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The plant will make radial truck and bus tyres and mainly target the country’s domestic market.
“We believe that India holds tremendous potential for the Michelin Group in terms of establishing a world-class manufacturing facility,” Prashant Prabhu, head of Michelin’s Africa-India-Middle East division, said in a statement.
The Michelin Group is investing 40 billion rupees (867 million dollars) to build the plant at Thervoy Kandigai, 50 kilometres north of Chennai, it said.
The plant will start operations in 2012 and “will focus on the growing Indian market”, the statement added.
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