Bridgestone India Pvt Ltd announced today of its investment of $ 304.3 mn (about Rs 1,939 crore) for the expansion of both in plants in Chakan, Pune, and Kheda, Indore. The company said that it will make the investments 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.
The production capacity, after full expansion is made to both plants by 2020, is expected to increase by about 15,000 tyres per day, bringing total daily production to about 41,000 tyres. Bridgestone noted that in addition to capacity expansion, this investment will enable the expansion of the size production mix capability of both plants. It said this is essential in order to better match the evolution of car industry models being released to the local market. The expansions are also expected to create 450 jobs for skilled manpower.
Kazutoshi Oyama, Executive Director, Bridgestone India Pvt Ltd, said this investment affirms the company’s commitment to expand its footprint in India, which is one of the fastest growing markets. It will enable Bridgestone India to be equipped with advanced manufacturing technology and processes that will allow it to better serve customers with products of superior quality, he added.