Chennai, Oct 24: Automotive tyre major JK Tyre & Industries Ltd has decided to expand its plant near here at an outlay of Rs.1,430 crore, said a top company official here Thursday.
“The investment will be over the next 15-18 months. The Company, keeping in view the long term demand growth, is undertaking expansion of its Chennai facility for both truck/bus and passenger car radials,” chairman and managing director Raghupati Singhania told reporters.
According to Singhania, nearly 30 percent of the production of out its plant near here will be exported.
The fresh investment will be funded out of internal accruals and debt.