Bridgestone India has announced a huge 304.3 million USD (Rs 1,939 crores) expansion plan centred around increasing the capacity of its two plants in India – at Chakan near Pune and Kheda near Indore. The investment will be done in a phased manner over the next five years starting 2017.
Speaking about the announcement, Mr. 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.”
The burgeoning Indian vehicle market has necessitated the investment. The production capacity is set to increase by 15,000 tyres per day, bringing total production to 41,000 units across both plants by 2022. In addition to increased output, the investment will address the need for a better size mix in order to tap the larger range of cars being released. An additional 450 job are set to be created.
“I am also excited about the benefits it will bring to our local community and team members, as further evidence of Bridgestone’s commitment to contribute to the evolution of the societies in each Region in which we operate in,” added Mr. Oyama.