Off-highway tyre manufacturer Ascenso Tyres has committed USD 100 million in investments to expand its capability to manufacture giant tyres for the mining sector and strengthen its all-steel radial off-the-road (OTR) portfolio.
The investment will cover advanced manufacturing infrastructure, specialised radial production technology, product development and testing capabilities, engineering talent, and infrastructure for giant tyre manufacturing, the company said.
According to Ascenso, the move is aimed at addressing a gap in the Indian market, where large-format mining tyres of this scale have historically been sourced largely from overseas manufacturers. The company also said only a limited number of manufacturers globally, and very few in India, design and manufacture giant OTR tyres domestically.