JK Tyre Banmore Plant Capacity Expansion 1st PhaseEXPANSION 1st Phase

JK TYRE BANMORE PLANT EXPANSION (1st Phase)

Highlights

• The company announces the completion of its first phase of capacity expansion of its radial tyre manufacturing facility with an investment of Rs. 312 crore
• This expansion will result in a 31% increase in the plant’s annual output capacity, from 39 lakh to 51 lakh units
• The second phase of expansion is expected to be completed by April 2024 with an additional
  investment of Rs. 617 crore, further increasing the production capacity by 31%

Indian tyre industry major and market leader in the radial tyre segment, JK Tyre & Industries, has announced the completion of the first phase of capacity expansion of their manufacturing facility located in Banmore, Madhya Pradesh. This was inaugurated by Shri Shivraj Singh Chouhan, Hon’ble Chief Minister of Madhya Pradesh in presence of Shri Narendra Singh Tomar, Hon’ble Union Minister of Agriculture and Farmers’ Welfare, and Shri Jyotiraditya Scindia, Hon’ble Union Minister of Civil Aviation and Steel.

With an investment of about Rs 1000 crore, the company has planned a 2-phased expansion
at its existing Banmore facility to cater to the increasing demand for passenger car radial (PCR)
tyres. The phase one expansion, involved an investment of Rs 312 crore. The expansion will
increase the annual production capacity of the plant by 31%, from 39 lakh to 51 lakh units per
annually

JK Tyre is now in the second phase of expansion, with an additional investment of Rs 617 crore that will increase the capacity by an additional 31% by April 2024.

Dr. Raghupati Singhania, Said

Managing Director of JK Tyre & Industries Ltd., said, “The expansion of this manufacturing facility 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 toward 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 term with our product in order to meet the demands of our customers, both domestically and internationally.”

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