Indian tyre manufacturer Ceat Limited, has decided to set up its proposed Rs 500-600 crore greenfield radial facility in Gujarat.

According to sources close to the State Government, the company has recently filed an application for the allotment of approximately 100 acres at either Halol near Baroda or Bharuch for setting up the proposed 36-lakh radial tyre facility.

The company had previously short-listed Tamil Nadu, Andhra Pradesh, Karnataka and Gujarat as the possible locations for the proposed greenfield venture.

Apart from passenger tyres, the proposed plant would also host a pilot facility to manufacture 2.5 lakh truck-bus radials per annum.

Recently, Ceat launched a new website, www.ceatyres.com. The company’s new web presence comes less than a month after the launch of Ceat’s new and fresh corporate logo, the first redesign in half a century.

The newly launched website features information about the company, the product range, along with tyre maintenance and information pages.

The company has reported a net profit of Rs 148.6 crore for the year-ended March 31, 2008, against Rs 29.25 crore a year ago.

The company's board has recommended a dividend of Rs 4 per share.