Kolkata, June 15 (IANS) Ruia Group-owned Falcon Tyres is pumping in Rs.850 crore for setting up a new unit in Uttarakhand and expanding capacity at its Mysore plant for manufacturing two-wheeler and three-wheeler tyres.
While the Uttarakhand factory, about 30 km from Haridwar, involves an investment of Rs.550 crore, the remaining Rs.300 crore is earmarked for the Mysore unit.
The construction of the Uttarakhand plant is likely to begin in the coming months after some land issues were sorted out, said Falcon Tyres chairman Pawan Ruia.
The plant would cater to two-wheeler manufacturer Hero Honda’s factory at Haridwar besides units of other original equipment manufacturers and produce five lakh units per month.
‘We are trying to complete the project this fiscal itself,’ he said. Falcon now has a capacity of about 13 lakh units per month from its Mysore plant and a Mumbai-based subsidiary Monotona Tyres.
Once the projects at Mysore and Uttarakhand are complete, Falcon’s capacity will go up to 23 lakh units per month. ‘This will make it the world’s largest company in the two-wheeler and three-wheeler tyre segment,’ Ruia claimed.
