Govind Rubber to build tyre plant in India

Govind Rubber plans to set up a new tyre manufacturing facility at Dahej in Gujarat with an investment of Rs 750 crore (approximately EUR110.9 million). The plant will have a production capacity of 225 tonnes/day. Additionally, the company will invest Rs 100 crore (approximately EUR14.7 million) 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 tyres 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 expects a turnover of Rs 150 crore (EUR22.18 million) in two years’ time from this project.