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Bridgestone to invest $304 million over 5 years to expand India plants

 LydiaCarmen
  41
 May 30, 2024

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NEW DELHI: Tire giant Bridgestone India today announced an investment of Rs. 3,043 crore (approximately Rs. 19.4 billion) over the next five years in the expansion of its two manufacturing plants in Maharashtra and Madhya Pradesh.

The company, which is part of Japan’s Bridgestone Corporation, plans to expand its Pune infrastructure (Bridgestone India said in a statement that the investment will be made in phases over the next five years, starting this year).

Kazutoshii Oyama, Managing Director, Bridgestone India “This investment confirms our commitment to expand Bridgestone’s business in India, one of the fastest growing markets in the world.”

He added that this investment will provide Bridgestone India with advanced manufacturing capabilities, technology and techniques and better products for its customers.

The plant expansion will enable Bridgestone to meet the growing demand for tires in India due to the increase in the number of vehicles and production.

The capacity of the two plants is expected to increase to approximately 15,000 tires per day, and by 2022, production will reach approximately 41,000 tires per day.

In addition to expanding production capacity, the investment will also help strengthen the product portfolio to meet the demand for new models in the domestic market.

The expansion will also help Bridgestone create 450 additional jobs for understaffed technicians at both plants.

Bridgestone, headquartered in Tokyo, is the world’s largest tire and rubber company.

In addition to selling tires for a variety of uses, we manufacture a wide range of products, including industrial rubber, chemicals and sporting goods.

The company sells its products in more than 150 countries worldwide.

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