JLL India facilitates marquee 163-acre land transaction for CEAT in Chennai

image003By Accommodation Times Bureau

CEAT to set up radial tyre manufacturing facility with INR 5000 cr phased investment

Chennai, October 9, 2017: JLL India, the country’s largest real estate consultancy has strategically advised and concluded a marquee transaction for CEAT – the flagship company of RPG Enterprise. The deal involved the purchase of a massive 163-acre land parcel in Chennai to set up a radial tyre manufacturing plant.

This is one of the largest industrial investments and private land acquisition arrangements in Tamil Nadu facilitated by an international property consultancy. As CEAT’s exclusive transaction advisers for this land acquisition, JLL India also facilitated the associated incentives negotiation with the Tamil Nadu Government.

The land parcel is located along the upcoming Chennai–Bangalore corridor in the industrial cluster ofSriperumbudur. This corridor commands high strategic important due to the presence of many automobile OEMs in the vicinity. CEAT plans to invest approximately INR 5,000 crore into this mega green field project in a phased manner over next 5 years. This is their first plant in South India and is expected to create over 2,000 jobs in and around the region, boosting its overall socio-economic status.

Similar Articles

Leave a Reply