Kesoram Industries to go slow on car tyre project

Kesoram Industries has decided to delay a new tyre manufacturing project in Orissa citing slowdown in the automobile industry where several auto makers have even resorted to stopping production to prevent piling up of inventory.

The company was to commission its 80 tpd car radial tyre project at Balasore by March 2013. The project cost was estimated at Rs 400 crore. However, the company now reassess the project from the market perspective and also from the point of view of its ability to fund the project in a realistic manner.