RPG, which make CEAT tyres, would invest Rs 600 crore (Rs 6 billion) in setting up a new radial tyre plant to ramp up capacity, Group Chairman Harsh Goenka told reporters in Mumbai.
"The company is expanding its radial capacity and has planned a substantial investment of Rs 600 crore to set up a new plant," he said.
However, the group is yet to finalise the location and the capacity of the new plant, Goenka said, adding the project would be financed through a mix of debt and equity.
"We
will take a decision on the capacity and location in the new few months," he added.
RPG is upbeat about the fast growing power sector and has plans on the anvil to set up a 2000 MW thermal plant.
"The plant could come up in West Bengal, Jharkhand or Orissa and we expect to sign a purchase agreement for coal with one of the state governments next fiscal," he said.
The plant would be set up within the next three years, Goenka said, adding that the total cost could be to the tune of Rs 10,000 crore (Rs 100 billion).
Besides, the group has outlined an investment of Rs 1,000 crore (Rs 10 billion) on its retail venture Spencer's, he said.
