TII investment to set up facilities in Chennai
According to a senior official, Tube Investments of India Limited (TII) which is a part of the Murugappa group, is planning to establish two facilities in Chennai with an investment of around Rs 200 crore to manufacture tubes, and automotive and industrial chains. Moreover, the company is also planning to open a bicycle manufacturing unit in Orissa with an investment of around Rs 65 crore. L Ramkumar, Managing Director, TI Cycles, a part of TII said that they have acquired around 60 acre near Chennai to set up the tube and chain facilities. One factory would manufacture tube products for the infrastructure industry, the other would produce automotive and industrial chains. The factory would be manufacturing products like hydraulic cylinder tubes used in earth-moving equipments with a capacity of 3,000 tonne per months.