JK Tyre Greenfield Plant to be Completed by 2012
India’s JK Tyre & Industries has outlined plans for a new greenfield facility capable of producing 2.5 million passenger radials and 400,000 truck and bus radials per annum. “We will set up a greenfield plant near Chennai and invest Rs 930 crore (₤136.7 million) in that. The plant will be completed by 2012,” JK Tyre & Industries Vice chairman and managing director Raghupati Singhania. JK Tyre & Industries has reportedly already acquired more than 100 acres of land for the factory. According to the company’s president and director, Arun K Bajoria, just under a third of the total planned investment will be funded through internal accruals and the rest will be raised from various financial institutions.