Ceat Ltd. has announced that it has signed joint venture agreement with A.K. Khan & Co. Ltd. The company plans an investment of USD 67 million for a capacity of 110 metric tonnes per day in phases. Under the joint venture agreement, while CEAT Limited will hold shareholding of 70% in the JV company, balance 30% will be held by A K Khan & Company Limited, subject to the necessary statutory approvals.

The company will provide the technology and operational support to the JV company. For this purpose, the company has also executed a technology, trademark and name licence agreement with CEAT Bangladesh Limited, the company proposed to be converted into the JV company.