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Real estate consultancy firm JLL India has strategically advised and concluded a transaction for CEAT – the flagship company of RPG Enterprise. The deal involved the purchase of 163-acre land parcel in Chennai to set up a radial tyre manufacturing plant.
This is one of the largest industrial investments and private land acquisition arrangements in Tamil Nadu facilitated by an international property consultancy.
As CEAT’s exclusive transaction adviser for this land acquisition, JLL India also facilitated the associated incentives negotiation with the Tamil Nadu Government.
The land parcel is located along the upcoming Chennai–Bangalore corridor in the industrial cluster of Sriperumbudur. This corridor commands high strategic importance due to the presence of many automobile OEMs in the vicinity.
CEAT plans to invest approximately Rs 5,000 crore into this mega greenfield project in a phased manner over next 5 years. This is the company's first plant in South India and is expected to create over 2,000 jobs in and around the region, boosting its overall socio-economic status.
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