Mumbai, India — Off-highway tire maker Balkrishna Industries Ltd. (BKT) is budgeting more than $200 million (€176 million) to upgrade and expand capacity for tires and carbon black at plants in India.
The Mumbai-based company disclosed the plans — affecting its plants in Bhuj and Waluj— in an investors presentation for the firm's fiscal 2019 second quarter, ended Sept. 30.
The investments in India are in addition to the $100 million BKT is committing to build a tire plant in the US and include upstream component supply that will impact the US investment.
The projects in India are:
$72.5 million to replace a 30-year-old farm/industrial/OTR tire plant in Waluj, Maharashtra, with an expanded factory on a 22-acre greenfield site nearby. The plant's capacity will remain at roughly 30,000 metric tons per year but at a facility with its own co-generation power plant and warehousing. The current plant is size-restricted and operating at "sub-optimal" levels, BKT said.