JK Tyre & Industries is planning an expansion programme for its tyre factory near Chennai, Tamil Nadu.
For the expansion plan, the company intends to invest Rs 1,430 crore. The investment plan of the company has received the board's approval.
JK Tyre & Industries will expand its truck and bus radial tyre capacity to 12 lakh tyres per year from the existing four lakh, and passenger car radials to 40 lakh from its existing 25 lakh tyres capacity.
The company will soon work out details relating to funding the expansion. The project will be commissioned in 15 months.
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