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.
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