Govind Rubber to build tire plant in India

qiangzi

Wednesday, July 18, 2012
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Mumbai - Govind Rubber plans to set up a new tire manufacturing facility at Dahej in Gujarat with an investment of Rs 750 crore. The plant will have a production capacity of 225 metric tons a day. Besides, the company will invest Rs 100 crore to modernize and enhance production capacity at its recently acquired unit at Alwar in Rajasthan. The acquisition was made through its subsidiary GRL Tires. GRL is further expanding into manufacturing of two and three-wheeler tires at the current location in Ludhiana. The company has also entered into a joint venture agreement with a South Korean company GK Co to set up a manufacturing plant for specialized rubber. GRL aims to sell its products in Korea, Indonesia, Vietnam, China and India. It envisages a turnover of Rs 150 crore in two years’ time from this project, Poddar said.