JK Tyre & Industries Ltd. has announced the completion of the first phase of capacity expansion of their manufacturing facility located in Banmore, Madhya Pradesh. This was inaugurated by Shri Shivraj Singh Chouhan, Hon'ble Chief Minister of Madhya Pradesh in presence of Shri Narendra Singh Tomar, Hon'ble Union Minister of Agriculture and Farmers' Welfare, and Shri Jyotiraditya Scindia, Hon'ble Union Minister of Civil Aviation and Steel. With an investment of about INR 10,000 million, the company has planned a two-phased expansion at its existing Banmore facility to cater to the increasing demand for passenger car radial (PCR) tyres.

The phase one expansion, involved an investment of INR 3,120 million. The expansion will increase the annual production capacity of the plant by 31%, from 3.9 million to 5.1 million units per annum. JK Tyre is now in the second phase of expansion, with an additional investment of INR 6,170 million that will increase the capacity by an additional 31% by April 2024.