9 Jan 2010, 1956 hrs IST, PTI
NEW DELHI: JK Tyre today said it will invest Rs 1,200 crore in the next three-four years for capacity addition which includes setting up a new plant in Karnataka with an investment of Rs 800 crore.
"JK Tyre has recently completed a Rs 315-crore expansion project to increase truck and bus radial tyre capacity from four lakh to eight lakh tyres per annum and is also planning to invest Rs 1,200 crore in the next three to four years to fulfill the demand for quality tyres," a statement quoting JK Tyre & Industries president Arun Bajoria said today.
As part of company's growth strategy, JK Tyre will invest in Karnataka to manufacture truck, bus and car radials to cater to both domestic and international markets and has earmarked an investment of Rs 800 crore for that, it added.
"We had announced last year to undertake substantial expansion of our tyre operations, therefore our new plant in Karnataka is part of our long-term growth strategy," Bajoria said in the statement.
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