CEAT OHT Lanka (Private) Limited has signed a landmark agreement with the Board of Investment of Sri Lanka for a US$171 million investment, strengthening the nation’s role as a global hub for off highway tyres. The investment follows CEAT’s acquisition of Michelin’s Sri Lanka plants, ensuring job security for 1,483 employees under a tripartite MoU. BOI Chairman Arjuna Herath hailed the move as one of the largest Indian investments in recent times.