Multinational auto and truck parts manufacturer Bridgestone Corporation, through its subsidiary Bridgestone India Pvt. Ltd., is investing US$304.3 million for the expansion of two of its tyre plants in India.
The investments for both the Pune (Chakan) and Indore (Kheda) plants will be done in a phased manner over the next five years starting 2017.
The 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 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.
Speaking about the announcement, Kazutoshi Oyama, Executive Director, Bridgestone India Pvt. Ltd. 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.”
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.