JK Tyre completes phase 1 of capacity expansion at Banmore plant
Leading tyre manufacturer JK Tyre & Industries Ltd has announced the completion of the first phase of capacity expansion of their manufacturing facility located in Banmore, Madhya Pradesh.
State chief minister Shivraj Singh Chouhan inaugurated the facility. The project takes an investment of about Rs 1000 crore. JK Tyre has planned a two-phased expansion at its existing Banmore facility to cater to the increasing demand for passenger car radial (PCR) tyres.
Phase one expansion has involved an investment of Rs 312 crore. The capacity expansion would increase the annual production capacity of the plant by 31%, from 39 lakh to 51 lakh units per annum.
Also Read: Rs 1100 Crore Investment Planned By JK Tyre & Industries