French tyre maker Michelin said on Monday it would invest Rs40 billion ($870 million) to build a tyre manufacturing unit in Tamil Nadu.
The company said it had signed a preliminary agreement with the Tamil Nadu government for the project, its first tyre manufacturing unit in India, and aimed to start operations by 2012.
The plant will employ about 1,500 local workers and will make radial truck and bus tyres, the company said in a statement.
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