Balkrishna Tyres Mulling 2,000 Crore Expansion Plan in India
India’s biggest off-highway tyre maker, Balkrishna Industries Limited (BKT) is said to have been working on INR 2,000 crore expansion plan in the country to fulfil the increasing demand for its products. The Chairman and Managing Director, BKT, Arvind Poddar told this while he was speaking to Indian journalists at the International Agri Machinery Exhibition. He further added that as the farmers in India are in need of good machinery for farming, the government too has realised its importance and is focusing on the agriculture sector.
At present, the company’s share in the off-road tyre market in India is around 7 percent and it is looking to increase it to 15 percent by 2022-2023. Mr. Poddar also informed about the relocation of BKT’s Aurangabad facility to a new location which is supposed to be completed in the next 18 months. The new facility will be built at a cost of nearly INR 450 crore. It is also learnt that BKT is mulling to set up a modern carbon black manufacturing facility at its Gujarat plant.
BKT currently has five plants in the states of Gujarat, Rajasthan and Maharashtra and majorly exports its products to North America, Australia and Europe.