Indian tyre manufacturer CEAT has planned to set up a tyre manufacturing plant in Bangladesh, reports bdnews24.com
CEAT AK Khan Limited managing director Jyotibrata Banerjee said CEAT wants to become the No 1 company in the tyre market of Bangladesh by setting up factory in Bhaluka, Mymensingh.
The people can buy CEAT tyres at a low price if it is manufactured in the country, said CEAT AK Khan Limited managing director Jyotibrata Banerjee.
The price will be 25 to 30 per cent less if the production is done in Bangladesh, he added where importing tyres from India is costly at present.
The CEAT official also said a CEAT grip motorbike tyre costs Tk 2400 now, which would be Tk 1700 if produced in Bangladesh.
CEAT in 2013 announced that it was building a production plant in Bangladesh to manufacture light and medium truck tyres as well as two-wheeler tyres in the country.
The project however was delayed for two years due to certain land related complications.
Jyotibrata Banerjee said that they also want to export 30 to 35 per cent of their tyre production in Bangladesh to the bordering states of India at a much less price.
The Bangladesh plant will make cross-ply tyres for trucks, light and small commercial vehicles and two-wheelers for the local market at the first stage. Later it will go for personal vehicle tyre production.
CEAT, the flagship company of RPG Enterprises, was established in 1956 in Mumbai. CEAT is one of India’s leading tyre manufacturers and a capacity of over 95,000 tyres per day.
* This report, originally published in Prothom Alo Bangla print edition, has been rewritten in English by Saimul Huda.