JK Tyre to invest Rs 9 bn over two years for expansion
JK Tyre & Industries will invest Rs 9 billion in capacity expansion over the next two years.
The investment will result in a 13 per cent increase in passenger vehicle tyre capacity. Previously the company planned to invest Rs 700 billion in 2018 but that plan was scrapped due to the coronavirus.
The company anticipates maintaining its export level of Rs 1.9 billion.
The company's exports have been expanding in a variety of directions. Apart from America JK Tyres exports heavily to Latin American countries such as Africa and the Middle East.
The company is also focusing on reducing its long-term debt which it has reduced by 30 per cent in the last three years.
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