India's fourth largest tyre maker, Ceat has earmarked Rs1,400-1,500-crore towards capital expenditure in the current financial year (FY12) and has targeted a 50 per cent increase in its exports.
Ceat, which recently commissioned a radial tyre plant at Halol in Gujarat, is planning to give a big boost to the unit Anant Goenka, deputy managing director, told participants in the Reuters Trading India chatroom.
The unit, which is currently operating at partial capacity, would have an optimum capacity of 150 tonnes a day, he said.
"We will be ramping up our Halol plant, increasing outsourcing capacities. Therefore, there should be good volume growth in the year," he said.
The company also has plans to invest another Rs10 crore this year on a proposed facility at Ambernath in Maharashtra. However, volumes of the unit are yet to be fixed.
Meanwhile, the tyre-maker today said it had decided to increase prices of its tyres by 3-5 per cent starting this month-end to compensate rising rubber prices for the second time this year.