Tyre major Bridgestone India Tuesday said it will invest over Rs 350 crore to expand its manufacturing plant at Indore in Madhya Pradesh.
With the latest expansion, the capacity of the facility will go up to over 20,000 tyres a day by 2020 and would enable the company to meet the increased demand for its products.
"This expansion is our response to the trust and confidence of our OEM partners in our product offerings. Through this expansion, we also demonstrate our commitment to create value for a larger base of Indian consumers," Bridgestone India MD Parag Satpute said in a statement.
The domestic market's growth prospects in the mid to long term future are positive and the company is ready to take the lead in being a trusted partner to its customers, dealers, consumers, and all other stakeholders at large, he added.
Bridgestone India started its operations in 1996. In March 1998, the company set up its manufacturing facility in Kheda, Madhya Pradesh. It further established one more facility in Chakan, Pune in 2013.
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