Gold
JK Tyre & Industries to invest Rs 9 bn over two years for expansion
05 Dec 2022 CW Team
JK Tyre & Industries will invest Rs 9 billion in capacity expansion over the next two years.
The investment will result in a 13% increase in passenger vehicle tyre capacity. Previously, the company planned to invest Rs 700 billion in 2018, but that plan was scrapped due to the coronavirus.
The company anticipates maintaining its export level of Rs 1.9 billion.
The company's exports have been expanding in a variety of directions. Apart from America, JK Tyres exports heavily to Latin American countries such as Africa and the Middle East.
The company is also focusing on reducing its long-term debt, which it has reduced by 30% in the last three years.
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