Ceat Tyres managing director Anant Goenka on Friday said Rs 1,400 crore has already been invested in Chennai and the company will be employing about 350 people at this point of time.

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He said over a period of 10 years it is going to invest a total of Rs 4,000 crore that is what the company has signed with the state.

"We have had an excellent experience here. We are very excited to be here in Tamil Nadu. Most of our plants historically have been located in the west, and you have a lot of auto players here so we are very excited to be here to supply to our customers nearby."

"It is near the raw material base, right near the port as well to export to different parts of the world, so I think this is an ideal location for us.”

Capex:

Goenka said capex expansion is going to be 28,000 tyres a day and this will add about Rs 2,000 crore to the company's topline. It will take about three years or so to ramp up to this capacity, he added.

"So we have planned it that this expansion will happen over a period of 2-2.5 years’ time, so that the capital outlay that happens is also spread over a period of time rather than doing it in one shot.”

increasing after-sales market share:

Goenka said: “Both segments offer a good opportunity for us. We have entered a number of new original equipment manufacturer (OEMs) and when you enter the high sales models like say for example Hyundai Venue, Renault Triber, were two new brands that we got into the last six months’ time so it is about getting into the right OEM at the right time so that the pace of growth in some of these segments you really see fast growth."

"So we are there with a number of new OEMs coming in the coming year as well.”

He further added that the after-market is certainly growing faster and that is an opportunity which the company plans to grow by setting up exclusive dealer outlets Ceat Shops.

"South India certainly is a very exciting opportunity for us and exports is a good opportunity as well with their being some pressure from China supplies coming in I think Europe and different parts of the world set up a good opportunity for all Indian manufactures.”