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 Corporate - New Projects


Michelin Pune plant by end-2005

Our Bureau

NEW DELHI: Michelin Apollo Tyres Pvt Ltd, a 51:49 joint venture between Michelin Group and Apollo Tyres Ltd, on Monday laid the foundation for its new manufacturing facility at Ranjangaon in Pune.

The joint venture company would produce radial tyres at this facility for the domestic truck and bus market. Expected to be ready by end 2005, the plant will have an initial capacity of 3,00,000 units, a press release issued by the company said here on Monday.

MATL, which was formed in March 2004, has already announced that it would invest about $75 million in the first phase for setting up the manufacturing facility.

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