Maharashtra Govt. signs MoU with Michelin

By Our Special Correspondent

MUMBAI, MARCH 22. The Government of Maharashtra signed a memorandum of understanding (MoU) with Michelin India Pvt. Ltd. for Michelin to manufacture high quality radial tyres for which a block of 35 hectres of land at the Industrial Estate at Talegaon Dabhade in the Pune district is being developed at present. The company will make an investment of Rs. 500 crores in the project.

According to a press release issued by the Maharashtra Government, the new plant will manufacture 10 lakh passenger car radial tyres a year and offer direct employment to 1,500 people, besides making available employment opportunity to 2,500 persons indirectly.

Michelin India is part of the Michelin Group of companies having headquarters in Clermont-Ferrand, France. It is one of the world's leading manufacturers of tyres with a share of about 18 per cent of the global market. The company has more than 80 manufacturing facilities around the world as well as three research and development centres.

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Section  : Business
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