Bridgestone to invest USD 304.3 million in india for expansion
Bridgestone India Private Limited, a group company of Bridgestone Corporation, would invest USD 304.3 million for both the Pune (Chakan) and Indore (Kheda) plants in India. The investment will be done in a phased manner over the next five years starting 2017.
Production capacity is expected to increase by an estimated 15,000 tyres per day, bringing 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 size production mix 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 company said.
“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,” said Kazutoshi Oyama, Executive Director, Bridgestone India.
This investment will further enhance Bridgestone India’s capability and capacity to produce tyres with cutting edge technology, to contribute in respect of the environment, while supporting the increasing demands of mobility to improve and facilitate the way the Indian community move, live and work, the company said in a statement.
Bridgestone India started operations in 1996.