The foundation stone laying ceremony for the manufacturing facility of tyre major Michelin, was held near Chennai, Minister for Industries TRB Rajaa said.

The plant located in neighbouring Tiruvallur district would be expanded at an investment of Rs 563.67 crore in the existing manufacturing facility of Michelin, to produce passenger car tyres.

"It gives us immense pride that a global industry leader like Michelin, with a 130-year legacy in shaping the tyre industry, has chosen to reinvest in Tamil Nadu. This decision is a testament to their faith in the State, and this government under the visionary Chief Minister M K Stalin," Rajaa said in a social media post, after taking part in the foundation stone laying ceremony.

The new facility would be among the company's best plants in the world, to be built on Industry 5.0 principles and advanced sustainability practices, incorporating Artificial Intelligence, robotics and automation to streamline production and enhance efficiency, he said.