Mumbai: Bridgestone India on Tuesday said it will invest Rs1,940 crore over the next five years starting this year to expand capacities at its plants in India—in Chakan near Pune and Kheda in Indore.
It will help the local arm of the Tokyo-headquartered firm, the world’s largest tyre and rubber company, to meet increased tyre demand, owing to growing vehicle population and production.
The additional investment will augment production capacity by an estimated 15,000 tyres per day, bringing the total daily production from both plants to approximately 41,000 tyres by 2022. In addition to capacity expansion, this investment will enable the expansion of the production capability of both plants in order to better match the evolution of car industry models being released to the local market.
It is also expected to create 450 jobs for skilled manpower.
“The investment affirms our commitment to expand Bridgestone’s footprint in India, which is one of the fastest growing markets in the world, and will enable Bridgestone India to be equipped with advanced manufacturing technology and processes that will allow us to better serve our customers with products of superior quality,"said Kazutoshi Oyama, executive director, Bridgestone India.