Mumbai: RPG Group-owned CEAT Ltd has earmarked ₹950-1,000 crore as capital expenditure for this fiscal year, mainly to expand manufacturing capacity across its key product segments including truck and bus radials (TBR), off-highway tyres (OHT), and two-wheeler tyres.
Speaking to ET, Arnab Banerjee, managing director at CEAT said the investment will support ongoing projects such as capacity expansion at its Ambarnath, Mumbai factory, where output is being increased to 150 tonnes per day from 105.
CEAT is also focusing on strengthening its presence in the growing OHT market. It plans to launch more than 20 new products this quarter.
"The capex planned for the current year is in line with what we did last year. Most of it will be used in funding projects announced last year," Banerjee said.
Speaking to ET, Arnab Banerjee, managing director at CEAT said the investment will support ongoing projects such as capacity expansion at its Ambarnath, Mumbai factory, where output is being increased to 150 tonnes per day from 105.
CEAT is also focusing on strengthening its presence in the growing OHT market. It plans to launch more than 20 new products this quarter.
"The capex planned for the current year is in line with what we did last year. Most of it will be used in funding projects announced last year," Banerjee said.
You may also like
Chaos at PNC Park: Fan falls from 21-foot Clemente Wall mid-game in Pittsburgh, players halt play to call for help
US private sector delegation heads to Greenland amid Donald Trump's threats to buy the island
"Waqf Act will destroy Waqf Board": AIMIM chief Owaisi launches AIMPLB protest
"Need anything more be said?": Congress MP Jairam Ramesh recalls Kharge's demand to PM for caste census
Pakistani troops violate ceasefire on LoC for 7th straight day; Indian Army responds
