From Tire Review

Groupe Michelin has formally committed to building its first tire plant in India, to be located in Chennai.

An agreement on the deal was signed Dec. 6 during the visit of French President Nicholas Sarkozy.

The estimated $500 million radial truck/bus tire plant will be located 50 km north of Chennai at Thervoy Kandigai, and will be spread over some 300 acres of land. Michelin said the plant is anticipated to be operational in 2012, and will primarily focus on the India market.

The announcement comes on the heels of Michelin’s formal deal to relocate and build a new tire plant in China.