Michelin to invest Rs 4,000 crore in new Chennai plant

摘要

French tyre major Michelin intends to set up a manufacturing unit at Gum-midipoondi, some 40 km north of Chennai. The company will invest Rs 4,000 crore over seven years.rnThe plant is expected to start manufacturing from 2012 and will produce truck and bus radials for the domestic market in the first phase.rnA memorandum of understanding was signed between Michelin's representative, Mr Prasanth Prabhu, and the Tamil Nadu Industries Secretary, Mr M.F. Farooqui.rn"The Indian truck market is transforming and is on the way to radialise," said Ms Claire Dorland Clauzel, Senior Vice-President - Communication andrnBrands and Member of the Group Executive Council, while speaking to the media in an interaction earlier this month.