Ascenso Tyres Invests $100M in India for Mining Tyres

Mumbai, Sep 15 (PTI) Off-highway tyre manufacturer Ascenso Tyres on Tuesday said it has committed USD 100 million in investments to scale up capability to manufacture giant tyres for the mining sector and expand its all-steel radial off-the-road portfolio.

The investment spans advanced manufacturing infrastructure, specialised radial production technology, product development and testing capability, engineering talent, and giant tyre manufacturing infrastructure, the company said.

The move addresses a gap that has long existed in the Indian market: large format mining tyres of this scale have historically been sourced almost entirely from overseas manufacturers, with very few companies anywhere in the world, and virtually none in India, designing and building giant OTR tyres domestically, it said.

Ascenso Tyres has a presence in the agriculture, forestry and construction (AFC) segment, with a manufacturing facility at Panoli, Gujarat, besides multiple facilities across the globe.

Beginning with 25-inch tyres, Ascenso's mining portfolio now includes 49-inch giant mining tyres, with even larger sizes already under development, enabling the company to serve applications ranging from construction and quarrying to large open-pit mining operations.


"India's mining sector is scaling up like never before, and the equipment that powers it needs tyres that can match that ambition. Our USD 100 million investment is about building world-class radial mining tyre engineering and manufacturing capability within the country, not simply adding capacity," said Yogesh Mahansaria, Managing Director, Ascenso Tyres.

Recognising the latest shift in the industry and the opportunity it presents for domestic manufacturing, the company said it is now extending that expertise into the performance-driven mining segment through its All Steel Radial (ASR) Off The Road (ROTR) range, designed and manufactured at its production facility in Gujarat, it said.

At the same time, the company continues to expand its product portfolio, manufacturing capability and field presence across India and its key global markets.

Ascenso is positioning itself to deliver performance approaching leading global brands while offering the value proposition that Indian mining operators, who weigh productivity and cost efficiency in equal measure, are looking for, the company said.

"Reaching 49-inch giant mining tyres, engineered here in India, is a significant milestone, not just for Ascenso but for what Indian manufacturing is capable of in this space. We see this as the start of a long-term commitment to mining customers in India and around the world," said Dhaval Nanavati, Chief Executive Officer, Ascenso Tyres.

Looking ahead, the company said it has laid a multi-year roadmap for its R OTR range that extends into 2027 and 2028, progressively adding sizes and patterns across mining, earthmoving and loader applications.