JK Tyre plans ~12.5-bn in its Lak­sar unit for ex­pan­sion

Business Standard - - COMPANIES - SHISHIR PRASHANT

Af­ter ac­quir­ing the Birla tyres fac­tory at Lak­sar area in Harid­war, the JK Tyre group has made a com­mit­ment to in­vest ~12.5 bil­lion in the unit for fur­ther ex­pan­sion.

Raghu­pati Sing­ha­nia, the chair­man and manag­ing direc­tor of JK Tyre, met Ut­tarak­hand Chief Minister Triven­dra Singh Rawat on Thurs­day evening and gave de­tails of the ex­pan­sion plan.

Sing­ha­nia said the com­pany has al­ready in­vested close to ~20 bil­lion to ac­quire the fac­tory from BK Birla Group com­pany Ke­so­ram In­dus­tries two years ago. A total of 4,500 work­ers are em­ployed in the fac­tory, he said.

“We are ready to in­vest ~12.5 bil­lion for a size­able ex­pan­sion in our Lak­sar fac­tory. This will give a boost to in­dus­tri­al­i­sa­tion in the hill state,” Sing­ha­nia said. The scale of in­vest­ment at the unit will go up to ~45 bil­lion.

Sing­ha­nia also sought in­cen­tives from the gov­ern­ment for the ex­pan­sion. Rawat gave an as­sur­ance in this re­gard.

Un­der the new in­dus­trial pol­icy, the state gov­ern­ment is of­fer­ing a host of in­cen­tives in­clud­ing cap­i­tal sub­sidy de­pend­ing on the area and the in­vest­ment pro­posal.

Ease of do­ing busi­ness, lower power tar­iffs, peace­ful­ness, sin­gle-win­dow sys­tem are some of the hall­marks of Ut­tarak­hand which had the credit of set­ting up some of the best in­dus­trial es­tates of Harid­war and Pant­na­gar where top in­dus­tries such as Nestlé, Hero Mo­to­corp, M&M, Bri­tan­nia and Ba­jaj Auto have al­ready set up key man­u­fac­tur­ing units.

JK Tyre has in­vested close to ~20 bil­lion to ac­quire the fac­tory from BK Birla Group com­pany Ke­so­ram In­dus­tries two years ago

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