JK Tyre to invest Rs 1,000 crore to meet annual target of 20 m tyres

To stretch its annual output to 20 million tyres, JK Tyre will invest around Rs 1,000 crore in its India operations spread over next three to four years. A large chunk of planned investment will go to its new plant near Chennai and some of it will also go for expanding the company’s Udaipur and Mysore plants.

?We have already invested about Rs 1,000 crore at the 104-acre plant at Chennai. Subject to market growth, we aim to invest R220-230 crore more on an annual basis over next 3-4 years. There will be expansion at the Udaipur (about R100 crore) and Mysore plants as well,? said Arun K Bajoria, president & director JK Tyre & Industries.

The company’s Chennai plant was started earlier this year on an initial annual output of 25 lakh passenger car radials (PCRs) and 4 lakh truck/bus radials (TBRs).

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Coupled with the production capacity at its three Mexico-based plants, the overall global annual capacity of the company will touch 30 million tyres, the company said.