Michelin Group – France based tyre manufacturer signed an MoU with Tamil Nadu government for setting up Rs 4,000-crore manufacturing facility in Tiruvallur district near Chennai. The tyre major has committed to invest Rs 4,000 crore in the plant that will be spread over an area of 290 acres and will absorb 1,500 workers locally.
The manufacturing facility will focus on a range of radial truck/bus tyres. The plant will start operations in 2012 and will focus on the growing Indian market.
Michelin currently has 1.10 lakh employees worldwide and has sales offices in 170 countries.
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