Ruia eyes Tyre Corp

Pawan Ruia has evinced interest to take over ailing public sector undertaking Tyre Corporation of India. After the re-opening ceremony of Sahagunj unit of Dunlop, he told reporters that the group has already approached the ministry of heavy industry for taking over the outfit.

"There will be a consolidation in tyre industry in next 4-5 years. Small units like TCI cannot exist in isolation in a competitive world and I feel that the company will be a perfect match for Dunlop," Ruia added.

He said that it has already entered into an agreement with the central public sector undertaking Tyre Corporation of India (TCI) for contract manufacturing of truck tyres from January 2007.

According to Dunlop chairman, initially the Sahagaunj factory would produce at 20 ton per day but gradually it would go up to 130 ton per day. "In four months we shall achive full capacity utilisation. We are starting with 203 employees another 130 will be inducted in next couple of days. We shall absorb 1,179 employees gradually," Ruia added.

The chief minister of West Bengal, Buddhadeb Bhattacharjee and the Union minister of heavy industries Santosh Mohan Dev were present during the reopening of the Sahagunj factory of Dunlop on Tuesday, when Ruia voiced his plans to take over TCI.