JK Tyre Secures $100M Sustainability-Linked Loan

25 Jan 2025 CW Team

India’s tyre industry has achieved a significant milestone as JK Tyre secured a $100 million Sustainability-Linked Loan (SLL) from the International Finance Corporation (IFC). The first deal of its kind in the sector will drive the company’s growth plans and strengthen its sustainability initiatives.

Boosting Production Capacity The loan allocates $30 million to JK Tyre & Industries Ltd and $70 million to its subsidiary, Cavendish Industries Ltd (CIL). The funds will enhance production at JK Tyre’s Banmore plant in Madhya Pradesh, focusing on Passenger Car Radial (PCR) tyres, and CIL’s Laksar facility in Uttarakhand, specializing in Truck and Bus Radial (TBR) tyres.

Advancing Sustainability in Manufacturing This funding aligns with JK Tyre’s commitment to sustainable manufacturing, aiming to integrate eco-friendly practices and reduce environmental impact across its operations. The initiative also supports India’s broader vision for green growth and self-reliance in domestic production.

Strengthening India’s Green Vision The investment underscores the importance of sustainable manufacturing in India, promoting climate-smart production, supply chain efficiency, and quality job creation. This move sets a benchmark for the tyre industry, showcasing the growing emphasis on integrating sustainability into the manufacturing sector.

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