Off-highway tyre-maker Alliance Tire Group (ATG), owned by the Japanese major Yokohama Group, is setting up its third plant in the country in Visakhapatnam with an investment of $ 165 million (around Rs 1,240 crore). The proposed $ 165-million plant will add over 20,000 tonnes per annum (55 tonnes per day rubber weight) capacity to the 2.3-lakh-tonne annual production from two India plants and will be commissioned by the first quarter of 2023. The plant will generate around 600 new jobs, adding to its 5,500-strong headcount, Nitin Mantri, chairman of Yokohama India and director of ATG, told on Sunday.
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