Ceat Plans For Expansion
Ceat limited has informed that the board of directors of the company at its meeting inter alia considered and approved:
A proposal for additional investment of approx. Rs. 706 crores towards the capacity expansion of greenfield project for passenger tyres thereby investing an aggregate amount of Rs. 3,506 crores up to FY 2022 increased from Rs. 2,800 crores. The investment is proposed to be funded through a blend of debt and equity.
Additional Equity infusion of approx. Rs. 168 crores in CEAT Specialty Tyres Limited, a wholly owned subsidiary of the company.