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Bridgestone India Pvt Ltd, a group company of global tyre manufacturer Bridgestone Corp, will invest $304.3 million for the expansion of its Pune (Chakan) and Indore (Kheda) plants. The investment will be done in a phased manner over the next five years, starting 2017.
This investment will enable Bridgestone’s Indian plants to meet increased tyre demand owning to growing vehicle population and production. Production capacity is expected to increase by an estimated 15,000 tyres per day, bringing the total daily production from both plants to approximately 41,000 tyres by 2022, the company said in a statement.
In addition to capacity expansion, this investment will enable the expansion of size production mix capability at both the plants. It is also expected to create 450 jobs for skilled manpower.
“This 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,” Kazutoshi Oyama, Executive Director at Bridgestone India, said.
Bridgestone India had started its operations in 1996.
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