JK Tyre & Industries is planning to start its Rs 1,000-crore expansion plan at its Chennai plant within the next two to three months doubling the tiremaker’s capacity at the plant, according to the Business Standard.
The project would be completed in two phases and be done by 2016-17. The proposed expansion will increase JK Tyre’s annual output to 4.5 million passenger car radials and 1.2 million truck/bus radials.
“We see good growth in the domestic market. Besides catering to the local demand, the plant will also cater to export markets and will be one of the major hubs for exports,” Vikram Malhotra, JK Tyre’s vice president of sales and marketing, told the Business Standard.