ERJ staff report (BC)
New Delhi – Tire major JK Tyre and Industries is planning to invest 8 billion rupees (€105m) to increase the capacity of its Chennai plant and expand its reach, reports Samiran Saha of New Indian Express.
Chairman Raghupati Singhania is reported as saying: “The company plans to invest … to double the capacity of the Chennai facility to around 5 million tires per annum over two years. We are emphasising markets and facilities in the American and European region.”
The Chennai plant, the newest of six in India, was commissioned in 2012. The expansion is to be funded through a mix of internal accrual and debt.
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Full story from New Indian Express