Michelin goes public on Indian truck tyre plant

ERJ staff report (DS)

Chennai, India -- Michelin has formally announced its intention to build a large truck and off-road tyre plant in southern India. The Indian press is full of reports today that the company has signed an agreement with the government of Tamil Nadu to invest Rs 40 000 million (euro 580 million) to build a new tyre factory in Tiruvallur district near Chennai.

Local reports said the plant will make radial truck tyres when it comes on stream in 2012, but previously Michelin said it would also make  off-road tyres for the mining and other sectors. It is expected to employ around 1500 people.

According to local press reports, the factory would be built up in phases on 290 acres of land at Thervoy Kandigal in Thiruvalluvar district situated about 50km north of Chennai.

Michelin had not responded to requests for clarification as this story went online

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Press release listing from Michelin (No Indian announcement at 11:40 GMT)

Press release from Tamil Nadu Government (not in English language or script)

Michelin to invest $870 mn in India News center (India)

Michelin to Build Factory in India Wall St Journal (India)

France-based Tyre group to set up rs 4000 cr facility in TN Economic Times (India)