JK Tyre to Set-Up Green Field Plant in Karnataka
JK Tyre & Industries Ltd., industry leader and manufacturer of well known brands JK TYRE, VIKRANT and TORNEL, had announced undertaking substantial expansion of its operations in one of the southern states. They had shortlisted Tamil Nadu and Karnataka for this purpose. In this connection Arun Bajoria, president, JK Tyre met with a team of senior officials of Govt of Karnataka lead V.P. Baligar, principle secretary (Industries) in Delhi. It is understood that Govt. of Karnataka has assured special incentives to the company for their forthcoming investments.
As part of company’s growth strategy of expanding its capacity and strengthening R&D, JK Tyre will invest in the state to manufacture truck, bus and car radials to cater to both domestic and international markets.
Announcing the expansion plans, Arun Bajoria said “There is an increase in demand for commercial vehicles as well as for passenger cars in the country. We had announced last year to undertake substantial expansion of our tyre operation, therefore our new plant in Karnataka is part of our long term growth strategy.”
“Our all new green field plant will by far be a state of the art tyre plant in the country. It will also provide substantial employment to the youths of the state,” he further added
JK Tyre has recently completed expansion of Rs. 315 crores to increase its capacity of Truck and Bus Radial tyres from 4 Lac to 8 Lac tyres per annum and is further planning to invest Rs. 1200 crores in the next 3 to 4 years to fulfill the demand for quality tyres in the country.
JK Tyre & Industries Ltd., a while back had announced undertaking substantial expansion of its operations in one of the southern states.
In same regards, the company had shortlisted Tamil Nadu and Karnataka for this purpose. In this connection Arun Bajoria, president, JK Tyre had met with a team of senior officials of Govt of Karnataka lead V.P. Baligar, principle secretary (Industries) in Delhi. It is now understood that Govt. of Karnataka has assured special incentives to the company for their forthcoming investments.
As part of company’s growth strategy of expanding its capacity and strengthening R&D, JK Tyre will invest in the state to manufacture truck, bus and car radials to cater to both domestic and international markets.
Announcing the expansion plans, Arun Bajoria said “There is an increase in demand for commercial vehicles as well as for passenger cars in the country. We had announced last year to undertake substantial expansion of our tyre operation, therefore our new plant in Karnataka is part of our long term growth strategy.”
“Our all new green field plant will by far be a state of the art tyre plant in the country. It will also provide substantial employment to the youths of the state,” he further added.
JK Tyre has recently completed expansion of Rs 315 crores to increase its capacity of Truck and Bus Radial tyres from four lakh to eight tyres per annum and is further planning to invest Rs 1200 crores in the next three to four years to fulfill the demand for quality tyres in the country.
Surely JK Tyres is having very aggressive plans for future. Inorganic growth by acquiring Tornel in Mexico. Love to see Indian Companes going global. Challenge is coming from MNC Tyre Companies coming in India like Michelin & Bridgestone, let see how our Indian tyre Companies can handle them.