27 May 2010
ERJ staff report (TB)
New Delhi, India -- Indian tyre maker JK Tyre & Industries Ltd. plans to invest $195 million over 18 months to build a plant near Chennai, India, for radial car and truck/bus tyres.
JK Tyre disclosed the investment during the presentation of its financial results for the fiscal year ended March 31.
The new factory is slated to come on stream in early 2012 with annual capacities of 2.5 million car tyres and 400,000 truck tyres, according to Vice Chairman and Managing Director Raghupati Singhania.
JK Tyre, India's No. 3 tyre maker, has secured 100 acres of land near Chennai for the plant, which will be the firm's sixth in India.
From Tire Business (A Crain publication)
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