TVS Srichakra announces Rs 1,000 Cr expansion plan

TVS Srichakra Ltd., an Indian manufacturer of 2 & 3 wheeler tyres and off-highway tyres, announced its planned capital expenditure of 1,000 crore to ramp up manufacturing in its Madurai and Pantnagar plants. This investment is planned to be made over a three-year period. The investment, when fully made, will result in an increase in 2 & 3 wheeler tyre capacity by 25-30% and doubling of off-highway tyre capacity from current levels.

The company had earlier announced the setting up of its product design centre in Milan, Italy.