India’s heading tyre builder Ceat voiced yesterday which it skeleton to set up a tyre production plant in Bangladesh.
Ceat Deputy Managing Director Anant Goenka pronounced in Mumbai which a association will deposit about Rs 250 crore to set up a latest trickery which is expected to occupy 550 people in a initial phase.
“The association has already finished a required grounds as well as aims to have tyres rolling out of a Bangladesh plant by a finish of a year 2013,” he said.
If a devise of Ceat, an RP Goenka Group association as well as fourth greatest tyre builder of India, materialises, it would be a single of a greatest production investments by an Indian association in Bangladesh as well as a initial by an Indian tyre manufacturer.
The plant will have cross-ply tyres for trucks, light as well as tiny blurb vehicles as well as two-wheelers for a internal market, which is now around Rs 1,000 crore, pronounced Goenka who expects this marketplace to grow to around Rs 1,200 crore by 2015.
He pronounced exports from a Bangladeshi plant to beside Nepal as well as Myanmar have been a possibility.
The organisation aims to constraint 40 percent of a projected direct of cross-ply tyres in a segment by 2015.
Bangladesh imports during slightest 1.5 million tyres annually. Of this, around 60 percent come from India as well as a rest from China, Indonesia, Japan as well as Thailand.
Goenka pronounced scarcely 80 percent of a tender element for a Bangladesh plant will be alien from India as well as Southeast Asia.
Although Bangladesh does not have sufficient tender materials such as carbon, rubber, containing alkali as well as chronicle for creation tyres, it still competence be a good plan to have a production section in Bangladesh as a nation has a flourishing marketplace for cross-ply tyres, Indian tyre attention sources said.