JK Tyre & Industries Ltd. (JK Tyre) announced the setting up of its world-class Greenfield project at Sriperumbudur, near Chennai. A Memorandum of Understanding (MoU) to this effect was today signed by Dr. Raghupati Singhania, Vice Chairman & Managing Director, JK Tyre and Industries Ltd. in presence of the Chief Minister of Tamil Nadu, Thiru M Karunanidhi and Thiru M.K Stalin, the Deputy Chief Minister of Tamil Nadu.Â
Commenting on the occasion, Dr. Raghupati Singhania, said, "We are highly obliged to the Government of Tamil Nadu for their continuing support extended to JK Tyre in setting-up this world –class Greenfield project. JK Tyre has always been at the forefront of innovation; pioneered the radial technology and has been setting precedents for the tyre manufacturing in the country.
JK Tyre’s new Greenfield radial tyre manufacturing facility is being set-up over 100 acres of land with an investment of 1500 crores and will be the most advanced tyre manufacturing plant. This plant will start producing Truck / Bus radial and Passenger Car radial tyres by the end of 2011 in its first phase. With the commissioning of this plant, JK tyres annual domestic capacity will reach 1.55 crore tyres per year by 2012.
Commenting on the project he added, "With this upcoming Greenfield project, which is being set-up by incorporating the global best manufacturing practices, we will set newer benchmarks for the industry by having the most efficient, modern and productive tyre plant in the world and hope to cater to a large market both domestic and International."
The manufacturing facility will be environment friendly, will maximize the use of natural resources and is being designed to have a zero carbon leakage by using a modern bulk carbon handling system. The manufacturing line will have highly automated machines for zero error in production and complete traceability through a bar coding system maintaining a consistent quality of the produce.
