Michelin

Michelin set to kick start work on plant near Chennai in February
State-owned promotional agency, SIPCOT, is in the final stages of granting the in-principle clearance to Michelin, one of the world’s largest tyre makers, for setting up a mega project near Chennai and the company is likely to start construction next month.

The state government has alienated 1,122 acres at Thervaikandikai in Thiruvallur district. SIPCOT has earmarked 290 acres for the tyre major, its MD N Govindan told ET on the sidelines of the three-day Pravasi Bharatiya Divas 2009. The deal will mark Michelin’s foray into the Indian market.

The MNC had earlier announced plans to set up operations in Maharashtra. It has been servicing the Indian truck market with imported tyres and was a technical and financial partner for Indian tyre major MRF at one point.

The plant site is near the NH5 Chennai-Kolkata highway. The company identified this location in November-December as it is situated within 40 km of the city and is near the sea port, he said.

The investment by Michelin is expected to give a fresh impetus to industrialisation in the region. There are already a large number of units at the Gummidipoondi complex, besides Thiruvallur and Arkonam.

Michelin has more than 1.15 lakh employees and sales organizations across more than 170 countries, including India. It designs, manufactures and sells tyres for airplanes, automobiles, bicycles, earthmovers, farm equipment, heavy-duty trucks, motorcycles and the US space shuttle at 69 production sites, situated at 19 countries across five continents.

The company also publishes travel guides, hotel and restaurant guides, maps and road atlases and offers electronic mobility support services, on ViaMichelin.com. Moreover, it pursues research and innovation development at technology centres in Europe, USA and Japan, according to its website.

Courtesy: http://economictimes.indiatimes.com/

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