CEAT tyres purchases 163 acre land in Chennai worth over Rs. 62 crore
CEAT, the flagship company of RPG Enterprise had bought a 163-acre land parcel in Chennai along the upcoming Chennai–Bangalore corridor in the industrial cluster of Sriperumbudur. The land valued at over Rs 62 crore was purchased to set up a radial tyre manufacturing plant.
JLL India, an international real estate consultancy firm has strategically advised and concluded the transaction. This Chennai–Bangalore corridor commands high strategic important due to the presence of many automobile OEMs in the vicinity. CEAT plans to invest approximately Rs 5,000 crore into this mega green field project in a phased manner over next 5 years.