JK Tyre completes Banmore plant phase 1 expansion

The first phase capacity expansion of JK Tyre & Industries’ Banmore plant in Madhya Pradesh, India is now complete. An investment of Rs 3.12 billion (£30.1 million) has lifted capacity for passenger car radials by 31 per cent, to 5.1 million tyres per annum. An additional investment of Rs 6.17 billion (£59.5 million) will increase capacity by an additional 31 per cent by April 2024.

The tyre maker formally inaugurated the first phase expansion in Banmore at a ceremony attended by local officials. Speaking at the event, Dr Raghupati Singhania, chairman and managing director of JK Tyre & Industries Ltd., stated that the plant’s expansion reflects “our unwavering dedication to innovation, sustainability, and our substantial contribution to the growth story of Madhya Pradesh.

“As India enters ‘Amrit Kaal,’ – the 25-year journey towards country’s centenary as a modern, developed democracy, we at JK Tyre believe this development to be a strategic move. This is vital as Indian economy engages with the global economy to foster regional prosperity. Our production and manufacturing capabilities are constantly evolving along with our product in order to meet the demands of our customers, both domestically and internationally.

“We extend our heartfelt appreciation to the Government of Madhya Pradesh and the local administration for their unwavering support. We remain steadfast in our mission to be a trusted mobility partner for the entire nation,” Singhania added.

Significant landmark

JK Tyre opened the Banmore plant in 1991 and says that over the years, the 211-acre (85-hectare) facility has “emerged as a significant landmark, spearheading industrialisation in the region and creating direct and indirect employment opportunities for nearly 15,000 individuals in the state.” According to the tyre maker, its two-phase expansion of the facility will generate additional employment for over 7,000 people in the region.