Tyre manufacturer JK Tyre & Industries today said it will invest Rs 270 crore for expanding its production capacity of off-the-road (OTR) tyres by 2011.
The company, which currently has 42 per cent share in the 95,000-units domestic OTR market in the country, is adding fresh capacity of 9,000 units per annum at its Mysore plant to take the total to about 44,000 tyres a year in the next two years.
The increase in capacity is done with a view to enhance presence in the local market and later explore opportunities for in the overseas market.
“We will be investing a total of Rs 270 cr in expanding our OTR capacity by March 2011. Apart from Indian market, we are also looking at exporting to other countries,” said RP Singhania, vice- president and managing director, JK Tyre and Industries
The company would invest Rs 120 crore for adding a capacity of 4,000 tyres till March 2010 to its existing production strength of 35,000 OTRs.
