The Tamil Nadu government cleared JK Tyre’s proposal for setting up a new production facility in the state, which would attract around Rs 1,600 crore investment. The new facility was expected to generate around Rs 2,000 crore revenue in 2013-14, according to company officials.
The company also said it was investing Rs 150 crore in Karanataka for expanding its production capacity in truck radials.
According to sources in the government, the state Cabinet chaired by Chief Minister M Karunanidhi cleared the proposal in a meeting on Monday.