Michelin's Indian project close to approval - report

ERJ staff report (DS)

Chennai, India -- Michelin's project to build a tyre factory in southern India is close to final approval from the Indian authorities, according to local press reports.

The Economic Times said Michelin has applied to invest Rs 40 000 million (euro 600 million) to build a tyre factory in Thervoy Kandigai village, near Gummidipoondi, in Tiruvallur district of Tamil Nadu. it added that a complaint by local farmers, who were concerned about grazing rights for their animals has been rejected by the courts. This effectively clears the way for the project to go ahead.

Local authorities expect to grant Michelin 1,127 acres for the radial tyre project.

Last October, Michelin said the project would be for the manufacture of earthmover and truck tyres - "for the time being."

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Silver lining for Michelin's radial tyre project in TN Economic Times (India)