Driven by growing demand in auto sector and recovering economy is expected to boost the country’s tyre industry. Industry experts suggest a healthy growth in the range of 7% to 8% in 2011. Sensing the upcoming demand tyre companies have lined up huge capital expenditure and capacity expansion next year.
JK Tyres, a leading players in the domestic market plans to invest Rs.1,200 crore and expand production in its car and truck radial segment during the next 2 years. Another leading tyre manufacturer, Ceat also plans to spend Rs.650 crore next year to set up a new plant and expand its existing plant capacity in Nasik.
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